Qumis, an innovative AI-powered platform designed to assist insurance professionals, has announced the successful closure of a $2.2m pre-seed funding round.

The round was led by Armory Square Ventures, with additional participation from MTech Capital, Grand Ventures, Alumni Ventures, BrokerTech Ventures, Sean Harper, co-founder and CEO of Kin Insurance, and Tom Vander Schaaf, former General Partner at Edison Partners, according to InsurTech Insights.

Launched in 2023, Qumis leverages artificial intelligence and deep legal expertise to simplify complex insurance processes.

The platform is designed to analyse policies, identify coverage gaps, and provide detailed recommendations, empowering insurance professionals to make informed decisions with greater speed and accuracy.

The new funding will be used to further enhance the Qumis platform and accelerate its adoption across the insurance industry.

The company plans to expand its capabilities and grow its customer base, which already includes five of the 15 largest US insurance brokers, leading specialty carriers, and prominent insurance-focused law firms.

Qumis co-founder and CEO Dan Schuleman highlighted the transformative potential of the platform, stating, “At Qumis, we enable insurance professionals to work smarter, faster, and more confidently. Advances in AI have unlocked the opportunity to re-imagine the way insurance policies are analysed and understood, transforming workflows that have remained unchanged for decades. This funding will accelerate our mission to bring cutting-edge solutions to an industry still entrenched in paper-based processes.”

Armory Square Ventures partner Neenah Jain praised Qumis’ progress, adding, “The Qumis team has already achieved extraordinary traction with minimal resources, demonstrating both their ability to execute and meet the immense demand for their platform. We’re thrilled to partner with Qumis to drive the digitisation of a legacy industry that is ready for transformation.”