Fulcrum Secures $25M in Seed and Series A Funding for AI Insurance Platform

Insurance runs on paper cuts. Not the dramatic kind. The slow ones. Fifteen days to check a policy. Six hours to build a proposal. Backlogs that grow teeth. In a $260 billion U.S. brokerage market, this is the quiet tax everyone pays and pretends not to notice. Fulcrum noticed. And instead of selling a sermon about disruption, they built leverage where the work actually hurts.

Fulcrum was founded in 2023 in San Francisco by Arjun Mangla and Sambhav Anand, two Columbia engineers who met as teacher and student and stayed as co-founders. Arjun Mangla brought McKinsey polish and enterprise scar tissue from Uber, Plated, and Setter. Sambhav Anand brought the muscle memory of regulated systems from Affirm and Oscar Health, plus a prior startup that hit $100K ARR. Different lanes, same obsession. Make the hardest operational work disappear without breaking trust.

Their first real test was not a demo day. It was an insurance broker conference in 2024, where they showed up with half-built workflows and a lot of nerve. Instead of polite nods, brokers stopped them mid-aisle. Contracts got signed on the spot. Someone called Fulcrum the Ferrari of policy checking. When operators who live in spreadsheets start talking like that, something real is happening.

The product is an AI platform purpose-built for P&C insurance brokerages. Not a chatbot. Not a sidecar. Fulcrum automates proposals, policy checking, coverage and claim analysis, certificates, and sales prep by living inside the systems brokers already use, including Applied Epic and Microsoft Outlook. Policy delivery drops from fifteen days to same day. Proposals shrink from six hours to under two. At Heffernan Insurance Brokers, standard policies get checked in fifteen minutes. Across customers, more than 2,500 manual hours disappear every day.

The market pulled hard. Fulcrum grew revenue 10x in 2025, doubled again in Q4, expanded from 9 to 20 people, and reached multi-million dollars in revenue by January 2026. Nearly a third of the top 50 U.S. brokers are already customers. Depending on how you count, between a quarter and nearly half of the top 100 are in. Names like Heffernan, M3, Hylant, and Newfront are not experimenting. They are running production.

This week, Fulcrum raised $25 million in a combined Seed and Series A, led by CRV. Reid Christian at CRV backed the bet. Foundation Capital doubled down, with Joanne Chen and Jaya Gupta continuing their conviction that started when Fulcrum had zero customers. South Park Commons was there early too, spotting leverage before the numbers made it obvious.

Fulcrum does not replace brokers. It sharpens them. It turns institutional knowledge into a context graph that compounds. In an industry allergic to risk and drowning in work, leverage is the only thing that travels fast. Watch who leans on this fulcrum next.