Qumis, a Chicago, Illinois-based AI platform built by lawyers to streamline insurance knowledge work, has raised $2.2 million in pre-seed funding.
Investors
The oversubscribed round was led by Armory Square Ventures, with participation from MTech Capital, Grand Ventures, Alumni Ventures, BrokerTech Ventures, and strategic investors, including Sean Harper, co-founder of Kin Insurance, and Tom Vander Schaaf, former General Partner at Edison Partners.
Armory Square Ventures is a returns-oriented, mission-focused technology venture capital firm that serves as an optimism engine and community catalyst for regions outside Silicon Valley. Founded in 2013 and is based in Skaneateles, New York.
Qumis Use of Funds
The company plans to use the funds to enhance its AI capabilities, expand its product offerings, and grow its customer base.
About Qumis
Founded in 2023, Qumis provides an AI platform tailored for the insurance industry, designed to streamline and modernize knowledge-intensive tasks like policy reviews and claims analyses. It combines AI with legal expertise to provide fast, accurate solutions for complex insurance challenges. Qumis serves five of the 15 largest U.S. insurance brokers, specialty carriers, and law firms.
Funding Details
Company: Qumis, Inc.
Raised: $2.2M
Round: Pre-Seed
Funding Month: January 2025
Lead Investor: Armory Square Ventures
Additional Investors: MTech Capital, Grand Ventures, Alumni Ventures, BrokerTech Ventures, Sean Harper, Tom Vander Schaaf
Company Website: https://www.qumis.ai/
Software Category: Insurance Workflow Automation and Knowledge
Source: https://www.globenewswire.com/news-release/2025/01/21/3012725/0/en/Qumis-Raises-2-2M-Pre-Seed-to-Revolutionize-Insurance-Industry-Knowledge-Work-with-AI.html