AI-based insurtech startup Pibit.AI has raised $7 million in a Series A round led by Stellaris Venture Partners.
Existing backers Y Combinator and Arali Ventures also participated in the round.
The new funds will help the company build its Centralized Underwriting Risk Environment (CURE) and encourage more insurance carriers to adopt it. Pibit.AI also plans to expand its product and engineering teams as it scales over the next year.
“Pibit.AI was built around one idea: that AI should empower underwriters, not replace them,” says Agarwal, founder and CEO. “Too many systems prioritize speed over trust. We’re building something that’s transparent, explainable, and decision-ready—a system that gives underwriters confidence in every output while helping them move faster than ever before.”
“As a fast-moving company scaling our operations nationally, Pibit.AI played a key role in ensuring we achieved that growth without losing control,” says Michaela Morrison, COO Method Insurance Services, a subsidiary of Cake Insure, Inc. “Our outcomes aren’t magic; they are the direct product of thoughtful engineering and a team that genuinely listens.”
Adam Price, CEO, Kinetic, adds: “Pibit.AI helps us to handle more than a billion dollars in submissions on an annual basis without scaling our overhead costs, and grow our business by close to 100 percent in premium because we’re able to get those looks and quotes up and running.”
Founded in 2020 by Akash Agarwal, Pibit.AI is an insurtech startup focused on improving how underwriting is done.
The company offers an AI-powered underwriting platform called CURE (Centralised Underwriting Risk Environment), which automates data collection, analysis, and risk assessment for insurers.
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