Pace

What Pace does

Pace (legal entity: Foundational Labs Inc.) is a New York City-based software company founded in 2024 that builds an agentic AI operations platform for the insurance industry. Its platform converts insurance carriers' and brokers' Standard Operating Procedures into executable Agent Operating Procedures (AOPs), which autonomous AI agents then run end-to-end across voice, email, text, document extraction, and computer-use channels. The core intellectual property is the proprietary COR (Contextual Reasoning) engine, a four-stage reasoning pipeline (parsing and smart chunking, relevance scoring, contextual assembly, reasoning with citations) that the company benchmarks at 95-100% accuracy on insurance document reasoning versus 70-83% for the same underlying LLMs without COR. The platform integrates with major insurance core systems (Guidewire, Duck Creek, Vertafore, Pega) and navigates legacy mainframes and proprietary admin portals, allowing agents to write directly to systems of record.

The platform is delivered as a single unified product rather than a modular suite, comprising the core orchestration layer, the COR engine, a multimodal agent launched in June 2026, a library of off-the-shelf AOPs (Submission Intake, FNOL Automation, Policy Checking, Adjuster QA, Life Claim Support, Intelligent Intake/NIGO, COI/Endorsement Processing), and a human-in-the-loop verification layer with graders and test cases. Pace sells exclusively through a direct enterprise sales motion supported by forward-deployed engineers who co-build AOPs inside customer environments, with engagements structured as multi-year production agreements following a stated pilot-to-production cycle of under six weeks.

Pace generates revenue through multi-year enterprise contracts with usage-based or outcome-based components tied to workflow volume, positioning itself as an agentic process outsourcer replacing traditional BPO labor. Named customers include Prudential Financial (Individual Life Insurance, multi-year agreement), Palomar (Nasdaq: PLMR, three high-volume specialty service flows), Convex (US), WTW (Risk & Broking), RYZE Claim Solutions, The Mutual Group, and Newfront. The company has raised $56 million to date, comprising a $10M Series A led by Sequoia Capital (January 2026) and a $46M Series B co-led by Thrive Capital and Sequoia Capital (May 2026) at a $375M post-money valuation.

Name

Pace

Legal name

Foundational Labs Inc.

Website

https://withpace.com

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

11–50 employees

Short description

Pace is a New York-based AI company building an agentic AI operations platform for the insurance industry, automating back-office workflows such as policy servicing, claims handling, and submission intake for enterprise carriers, brokers, MGAs, and TPAs.

Ownership category

akta.pro rank

Product category

Insurance AI Operations Platform

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro industry

PRIMARYFSAGAGAK

Document, Workflow & Policy Servicing Automation (RPA/No-Code)

Financial & Insurance/Financial Technology (Fintech)/Insurtech Platforms (Digital Insurance Enablement)

SECONDARYBPAAAFAA

Insurance Claims Intake & FNOL Support

Business & Public Services/Administrative & Support Services (BPO, Call Centers, Back Office)/Claims Processing & Adjudication Support

Keywords

• Insurance AI operations
• Agentic AI platform
• Insurance workflow automation
• Claims processing automation
• AI-native BPO

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Multi-year Enterprise Contracts: Long-term agreements with insurance carriers and brokers structured as multi-year production contracts (e.g., multi-year agreement with Prudential's Individual Life Insurance business). Revenue is recurring with potential to scale as customers move additional workflows onto the platform. Deal sizes tied to the volume of automated workflows and breadth of operations covered.
2. AI-Native BPO / Agentic Process Outsourcing: Pace positions itself as an 'agentic process outsourcer' for the insurance industry, replacing traditional business process outsourcing (BPO) labor with autonomous AI agents. Pricing is likely tied to volume of workflows automated or tasks completed (usage-based), aligned with the stated long-term goal of achieving 80% gross margins by running hundreds of thousands of AI agents in place of human workers.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels6 records

Core offering

Pace sells an AI operations platform for the insurance industry that turns insurance Standard Operating Procedures into Agent Operating Procedures executed by autonomous multi-agent AI systems across voice, email, text, documents, and core admin systems (Guidewire, Duck Creek, Vertafore, Pega). Customers license the platform under multi-year enterprise agreements and Pace's forward-deployed engineers co-build and maintain workflows for insurance carriers, brokers, MGAs, and TPAs, replacing offshore BPO labor with autonomous agents that handle submission intake, policy servicing, FNOL, claims QA, policy checking, COI generation, and endorsements end-to-end.

Product overview

Pace is a single unified AI operations platform for the insurance industry — not a modular suite — delivered under one brand, one codebase, and one agentic workforce. The core platform is the Pace AI Operations Platform (withpace.com), an orchestration, integration, and governance layer that turns insurance Standard Operating Procedures into Agent Operating Procedures (AOPs) executed by autonomous agents. Built into the platform are four named sub-products/capabilities that compose the offering: (1) the COR (Contextual Reasoning) engine, which provides document intelligence and grounded citations; (2) the multimodal agent (launched June 22, 2026), which unifies voice, email, document extraction, and computer use under a single agent with subagents; (3) a library of off-the-shelf AOPs that cover Submission Intake & Quote Turnaround, Life Claim Support, Intelligent Intake & NIGO, Policy Checking, FNOL Automation, COI / Policy Change / Endorsement Processing, and Adjuster QA; and (4) a Human-in-the-Loop layer with graders and test cases for regulated production deployments. Together these run on a shared agentic workflow orchestration and observability layer that integrates with carriers' Guidewire, Duck Creek, Vertafore, and Pega systems, replacing offshore BPO labor for clients including Prudential, Palomar, Convex, WTW, The Mutual Group, and Newfront.

Differentiator

Problem solved

Functional benefit

Products and services

• Pace AI Operations Platform

Quantifiable outcome

• 250,000+ insurance workflows autonomously completed since launch
• +10 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability14 records

Feature8 records

Partnerships

Seven partnerships are on record, tiered core and flagship.

• GuidewirecoreTechnology or IntegrationGuidewire is one of Pace's pre-built insurance core system integrations. Pace's agents navigate Guidewire platforms as part of end-to-end claims and policy workflows.
• Duck Creek TechnologiescoreTechnology or IntegrationDuck Creek is one of Pace's pre-built insurance core system integrations, alongside Guidewire and Vertafore.
• VertaforecoreTechnology or IntegrationVertafore is one of Pace's pre-built insurance core system integrations, alongside Guidewire and Duck Creek.
• Prudential FinancialflagshipStrategic or Co-development PartnerPrudential's Individual Life Insurance (ILI) business selected Pace as a strategic AI partner in a multi-year agreement (announced December 2025) to automate policy servicing and quality assurance. The engagement moved from pilot to full production after demonstrating clear speed and efficiency improvements.
• WTW (Willis Towers Watson)flagshipStrategic or Co-development PartnerWTW's Risk & Broking division partnered with Pace to modernize broker workflows. WTW is named as a flagship customer with Pace agents running tens of thousands of tasks per week in production.
• Palomar (Nasdaq: PLMR)flagshipStrategic or Co-development PartnerPalomar selected Pace after evaluating multiple AI vendors; Pace now runs three of Palomar's highest-volume service flows (policy documents, cancellations, endorsements) across voice and email, processing hundreds of requests per day and resolving 90%+ of cases end-to-end.
• RYZE Claim SolutionscoreStrategic or Co-development PartnerRYZE (backed by Bain Capital Insurance) partnered with Pace on AI-powered claims QA, achieving 30% reduction in QA cycle time, 2x more errors identified, and 98% audit accuracy. Expanding into FNOL intake.

Scale indicators12 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• EXL Service: EXL Service is a global analytics and digital-operations firm with a sizable insurance practice spanning underwriting, claims, and policy servicing BPO. It is a broad incumbent in the same insurance-operations market Pace is repositioning with AI-native economics.
• Cognizant: Cognizant is one of the largest insurance BPO and IT services providers globally and is actively embedding AI into its service delivery. It is a broad incumbent whose traditional BPO contracts Pace is explicitly targeting to displace.
• Genpact: Genpact is a major BPO and digital-transformation provider to insurance carriers and financial services firms. As an incumbent insurance operations outsourcer with AI initiatives, it represents both a competitor and a likely acquisition/partnership target for Pace.
• DXC Technology: DXC Technology combines insurance software (including the Xchanging and DXC Assure platforms) with large-scale BPO services to global insurers. It is a broad incumbent in the same insurance operations and core-systems space where Pace competes.

Direct peers

• Charlee.ai: Charlee.ai applies AI to insurance claims prediction and triage for P&C carriers. It overlaps with Pace's claims-side AOPs (FNOL automation, adjuster QA) and shares the same enterprise-carrier buyer.
• Shift Technology: Shift Technology provides AI-driven fraud detection, claims automation, and underwriting decisioning for global insurers. It is a direct peer in the AI-for-insurance-operations category, with overlapping capabilities in claims workflow automation and similar enterprise carrier customer base.
• Roots Automation: Roots Automation builds AI agents purpose-built for the insurance industry, automating back-office operations across carriers and brokers. It is the closest direct competitor to Pace, with overlapping target customers (large carriers, mutuals) and a similar agentic-AI value proposition.
• Planck: Planck applies AI to commercial insurance data ingestion and submission processing — directly overlapping with Pace's Submission Intake & Quote Turnaround and Intelligent Intake & NIGO AOPs. It targets the same commercial-carrier underwriting-workflow pain points that Pace's agents address.

Emerging players

• Cognigy: Cognigy is an enterprise conversational-AI platform with deployed insurance use cases for voice and chat automation. It is comparable as an alternative stack for insurers seeking to automate voice/email service operations, though it lacks Pace's deeper document-reasoning and system-agnostic agent capabilities.
• Ushur: Ushur delivers AI-powered customer engagement automation with a strong focus on insurance use cases including policy servicing and claims status. It is comparable as an AI-agent platform for insurance operations, though it leans more toward customer-facing engagement than Pace's deeper back-office AOP layer.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat7 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/pacecom
• LinkedInlinkedin.com/company/pace-com

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds3 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pace