Qumis, a Chicago, Illinois–based attorney-trained AI platform for commercial insurance coverage intelligence, has raised $4.3 million in Seed funding.
Investors
The round was led by MTech Capital, with new strategic investor American Family Ventures and participation from all prior investors.
MTech Capital is a venture capital firm focused exclusively on insurance technology and the digital transformation of the financial services sector. Founded in 2018 and headquartered in Santa Monica, California, with a major office in London, UK.
Qumis Use of Funds
The company will use the funding to expand its go-to-market team and deepen product capabilities as demand grows from large brokers, carriers, and coverage-focused law firms.
About Qumis
Founded by Dan Schuleman and Shiv Sinha, Qumis is an AI company that delivers attorney-level commercial insurance coverage intelligence by reading policies like a seasoned coverage attorney, combining legal reasoning with market intelligence. The platform handles complex policy towers, exclusions, endorsements, and definitions, providing source-linked citations, confidence signals, and structured analysis. Headquartered in Chicago, Illinois, Qumis clients include major brokers such as NFP.
Funding Details
Company: Qumis, Inc.
Raised: $4.3M
Round: Seed
Funding Date: February 2026
Lead Investor: MTech Capital
Additional Investors: American Family Ventures; Prior investors
Company Website: https://www.qumis.ai/
Software Category: AI Insurance / Coverage Intelligence / Legal AI
Source: https://www.globenewswire.com/news-release/2026/02/19/3241222/0/en/