# Qumis

> Qumis is a Chicago-based insurtech building attorney-trained AI for commercial insurance. Its coverage intelligence platform reads dense property and casualty policies the way a seasoned coverage attorney would - comparing quotes and endorsements, flagging gaps across policy towers, and backing every answer with source-linked citations and transparent reasoning. Founded by a former coverage attorney and a former Goldman Sachs engineering leader, Qumis already serves five of the 15 largest U.S. brokers, along with specialty carriers and insurance law firms, and has raised $6.75M to put a coverage specialist at every desk.

- **Founded:** 2023
- **Headquarters:** Chicago, Illinois, United States
- **Founders:** Dan Schuleman (Co-Founder & CEO), Shiv Sinha (Co-Founder & CTO)
- **Team size:** ~21 employees
- **Products:** Compare, Summarize, Evaluate, Ask, Populate
- **Notable:** Raised $6.75M total across pre-seed and seed rounds, Serves five of the 15 largest U.S. insurance brokers, Scaled to hundreds of users at NFP (an Aon company) organically

## Products & services

- **Compare** — Identifies changes across policies, quotes, binders, and endorsements and explains their implications.
- **Summarize** — Distills what a policy covers and excludes into a clear, structured summary.
- **Evaluate** — Enables quick, defensible coverage decisions with expert-quality reasoning.
- **Ask** — Answers natural-language questions pulled directly from policy documents, with citations.
- **Populate** — Converts policies into completed spreadsheets automatically.
- **Verify** — Performs rapid compliance checks against policy requirements.
- **Vault** — Secure, SOC 2-grade policy storage with team-wide access and institutional knowledge that builds over time.

## Achievements

- Raised $6.75M total across pre-seed and seed rounds
- Serves five of the 15 largest U.S. insurance brokers
- Scaled to hundreds of users at NFP (an Aon company) organically
- SOC 2 certified with enterprise-grade security
- Oversubscribed seed round led by MTech Capital with American Family Ventures

## Latest updates

- **2026-02** — Closed an oversubscribed $4.3M seed round led by MTech Capital with American Family Ventures, bringing total funding to $6.75M.
- **2025-01** — Raised $2.2M pre-seed led by Armory Square Ventures to automate policy reviews and claims analysis with AI.
- **2025** — Shipped a major platform update with refreshed UX, AI-enhanced workflows, and expanded legal-grade analysis covering related contracts and legal references.

## Links

- Website: https://qumis.com
- LinkedIn: https://www.linkedin.com/company/qumis

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Profile page: https://yespress.io/qumis
Published by YesPress — https://yespress.io
Last updated: 2026-07-03