Qumis has raised an oversubscribed USD 4.3 million seed led by MTech Capital, the company said on 19 February 2026. American Family Ventures joined the round, and the Chicago-based firm said total funding now stands at USD 6.75 million for its attorney-grade coverage intelligence product aimed at commercial insurance.
Chief executive and co-founder Dan Schuleman framed the raise around scaling coverage analysis that is trained with attorney expertise rather than generic language models alone. The GlobeNewswire release named NFP, an Aon company, as a customer expanding usage, with innovation leadership quoted on deeper deployment.
LinkedIn headcount around the announcement sat near 16 employees — consistent with an early seed-stage go-to-market. Product claims about attorney-grade accuracy should be validated against each buyer's coverage forms and dispute history.
For MGAs and brokers wrestling with coverage opinions at volume, Qumis is pitching specialised insurance-law depth over horizontal contract AI.
Figures and customer claims in this piece are those stated by the company or acquirer in the cited materials.
AI-360 has not independently audited operating metrics named in the announcement.
Product roadmaps and close timelines remain subject to the usual commercial and regulatory conditions.