Stellaris Venture Partners led Pibit.AI's $7 million Series A funding round, which also included Y Combinator and Arali Ventures.
Key Highlights
- Pibit.AI secures $7 million Series A funding led by Stellaris to scale its AI underwriting platform.
- Its CURE system targets fast, accurate business-insurance underwriting, aiming to boost speed and lower risk.
The money raised will be used to develop its Centralized Underwriting Risk Environment (CURE) and encourage insurance companies to embrace it. In order to support growth over the coming year, it will also increase the size of its technical and product teams.
Akash Agarwal founded Pibit.AI in 2020 to create reliable AI underwriting solutions. For underwriters who still spend a lot of time on manual duties and data collection, the firm focuses on increasing speed, accuracy, and decision-making. Their objective is to provide underwriting teams with dependable, transparent outcomes while lowering operational load.
The entire underwriting process is managed by a single system called CURE. Submissions, document parsing, research, danger alerts, and task coordination are all handled by it. RiskCURE evaluates accounts, WorkflowCURE centralizes tasks and communication, ResearchCURE facilitates real-time enrichment, DocumentCURE controls document intelligence, and ClearCURE oversees triage.
Also Read: Luma AI Raises $900 Mn Series C for Saudi Supercluster
The business serves clients in a variety of markets and is committed to providing underwriting teams with consistency and trust in the face of growing submission volumes and constrained specialist capacity.
