Qumis Raises $4.3M to Bring Attorney-Grade Coverage Intelligence to Commercial Insurance

Oversubscribed seed round led by MTech Capital with American Family Ventures as new strategic investor; total funding reaches $6.75 million.

Published on Feb. 24, 2026

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Qumis, an AI platform that provides attorney-trained coverage intelligence for commercial insurance, has raised $4.3 million in an oversubscribed seed round led by MTech Capital, with new strategic investor American Family Ventures and participation from all prior investors. The total funding for Qumis has now reached $6.75 million.

Why it matters

The funding comes as AI investment in insurance accelerates, but most capital is flowing to workflow automation and document processing. Qumis is building something different: attorney-trained AI that combines coverage expertise with market intelligence, giving every broker, underwriter, and claims professional capabilities that previously required both outside counsel and a data operations team.

The details

Qumis is powered by the most sophisticated coverage intelligence engine ever built for commercial insurance. While other tools treat policies as documents to search, Qumis reads them the way a seasoned coverage attorney does — understanding how exclusions carve back coverage, how endorsements modify terms, and how definitions ripple across hundreds of pages of interrelated language. The platform combines proprietary document processing with multi-stage legal reasoning trained on thousands of real-world coverage analyses. Every output includes source-linked citations, transparent reasoning chains, and confidence signals.

  • Qumis announced the $4.3 million oversubscribed seed round on February 19, 2026.
  • The total funding for Qumis has now reached $6.75 million.

The players

Qumis

The only attorney-trained AI platform for commercial insurance coverage intelligence.

Dan Schuleman, Esq.

The co-founder and CEO of Qumis.

MTech Capital

The venture capital firm that led the oversubscribed seed round for Qumis.

American Family Ventures

The new strategic investor in Qumis.

NFP

An Aon company that has expanded its usage of Qumis organically from an initial team to hundreds of users across the organization.

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What they’re saying

“The gold standard for coverage analysis has always been a skilled coverage attorney, but you can't put one on every account. Qumis changes that. Our platform delivers coverage-expert-level analysis at scale, with the citations and reasoning to back it up. And because it's AI-native, we can combine that expertise with the kind of market intelligence that large brokers typically need entire data operations teams to produce.”

— Dan Schuleman, Esq., Co-founder and CEO of Qumis (globenewswire.com)

“Since rolling out Qumis, our teams are spending less time wrestling with policy language and more time advising clients. It's like putting a coverage specialist at everyone's desk — but faster and more consistent.”

— Mark J. Rieder, Head of Innovation at NFP (globenewswire.com)

“We backed Qumis early because brokers told us that once they started using it, they couldn't imagine working without it — and would even pay for it themselves if their employer wouldn't. In an industry facing social inflation, increasingly complex risks, and a talent crunch, Qumis was the right solution at the right time. The team's traction with major brokers and specialty carriers made this an easy decision to lead.”

— Brian McLoughlin, Partner at MTech Capital (globenewswire.com)

What’s next

Qumis will deploy the capital to expand its go-to-market team and deepen product capabilities as demand grows from large brokers, carriers, and coverage-focused law firms.

The takeaway

Qumis is providing a unique AI-powered solution that delivers attorney-grade coverage intelligence to the commercial insurance industry, addressing challenges around social inflation, complex risks, and talent shortages by putting coverage expertise at the fingertips of every broker, underwriter, and claims professional.