Overview
- The Series A was led by Stellaris Venture Partners with participation from Y Combinator and Arali Ventures, confirming new capital to expand the business.
- Pibit.AI plans to invest in R&D, product development, expanded risk models, deeper data partnerships, and hiring across product, engineering and customer success.
- Its CURE platform centralizes submission ingestion, document parsing, enrichment, risk flagging and workflow orchestration into a single workspace for underwriters.
- Customers cited include Kinetic, Method Insurance Company, HDVI, Shepherd and RMS Insurance Brokerage, with one executive saying the system helps handle over $1 billion in annual submissions without adding overhead.
- The company reports gains such as up to 85% faster underwriting cycles, a 32% lift in gross written premium per underwriter, and up to 700 basis points improvement in loss ratios, figures not independently verified in the coverage.