Pibit.AI, a San Francisco-based insurtech firm, has raised US$7 million in a series A round led by Stellaris Venture Partners, with participation from Y Combinator and Arali Ventures.

The company develops Cure, an AI platform that streamlines underwriting for insurance carriers and managing general agents.

The funding will be used to expand its AI infrastructure, integrations, and advanced risk models.

Founded by Akash Agarwal, Pibit.AI employs over 125 people and serves clients across the US. Its customers include HDVI, Shepherd Insurance, RMS Insurance Brokerage, Kinetic, and Method Insurance Company.

The company claims its platform can reduce manual work and speed up underwriting.

It plans to grow its team and product offerings to drive further adoption in the insurance industry.

🔗 Source: Pibit.AI