Axle Announces $17.5M Series A Led by Base10

Axle, building AI agents to automate insurance workflows led by Cameron Duncan, Nihar Parikh, and Armaan Sikand, has announced $17.5M in Series A funding led by Base10 Partners, with continued investment from Y Combinator and Gradient Ventures, and participation from Stage2 Capital, Chris Bayley (Co-Founder and CEO of Cover Genius), and other industry angel investors, joined by existing investors, including the early team at Plaid.

Over the past six months, Axle has tripled the number of workflows it automates, now processing more than $100 billion in annual coverage across 4,000+ businesses, including dozens of Fortune 500 companies. The platform has accelerated these workflows by up to 20x and helped customers recover hundreds of millions of dollars in losses.

Before Axle, verifying renter insurance meant either absorbing the risk or slowing down the customer experience. Axle provides instant, accurate verification and has helped SIXT recover millions in losses previously written off each year.

— Jordan Bannantine, Head of Risk Management, SIXT

An $8.3 Trillion Industry Still Running on Paper and Phone Calls.

Insurance is an $8.3 trillion backbone of the economy, supporting mortgages, car purchases, apartment leases, vehicle rentals, and countless other transactions. Yet many businesses still rely on fax machines and phone calls to verify, update, and monitor policies.

A single mortgage can require more than 10 insurance interactions over its lifetime, from calculating DTI and verifying coverage to loan sales, escrow payments, and claims support.

The underlying challenge is structural. Unlike banking and credit, insurance lacks a common ledger. Major carriers can operate 15 or more policy systems, while critical data often remains trapped in unstructured documents built for brokers rather than software.

Building the Clearinghouse for Insurance.

Axle’s infrastructure and AI agents connect fragmented insurance systems, route requests to the right source, and normalize unstructured data into a common standard.

The result is a unified API that enables software and AI agents to automate core insurance workflows, including verifying coverage, checking requirements, updating policies, and monitoring changes.

In 2026, insurance verification should no longer depend on faxed PDFs or phone calls. Axle aims to make insurance programmable by building the infrastructure that enables a new generation of products.

— Adeyemi Ajao, Co-founder and Managing Partner, Base10 Partners

What’s Next?

The funding will support hiring across engineering and go-to-market teams while expanding Axle’s clearinghouse to more than 50 insurance segments across Home, Auto, Renters, Commercial, and Specialty. The company will also deepen direct relationships with carriers using Axle as a governed gateway to businesses and consumers.

The longer-term ambition is to make insurance standardized and programmable, similar to the clearinghouses that underpin credit, payments, and identity. This infrastructure could create greater value for insurers, businesses, and the consumers they serve.

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