""The Internet is really what gave rise to outsourcing," said Cuffe. "In the 1990s, 2000s, for the first time, you could basically do this work wherever you were and send it back. Now we're seeing the same thing, where all of this work that was being outsourced offshore can now be outsourced to AI.""
""That's the part of the market that Pace really addresses," said Bryan Schreier, the Sequoia partner leading the deal, who worked with Cuffe at his last startup, Cheer, which sold to Retool in 2020. "The thesis behind Pace is that the next wave of disruption on the operations side of insurance-this $100 billion market-is AI because it's a perfect fit.""
Jamie Cuffe grew up in London, New York, and Bermuda while his father worked for Lloyd's of London and later spent years in startups before founding Pace in 2024. Pace is an agentic AI company focused on automating insurance operations and business-process outsourcing. Customers include Prudential, The Mutual Group, and Newfront. The startup raised $10 million in Series A funding from Sequoia Capital. The insurance BPO market is about $70 billion annually, and broader financial-services operations around the industry approach $400 billion. Sequoia partner Bryan Schreier argues AI is a natural fit to disrupt these operations.
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