Nirvana Raises $57M in Series B Funding

Nirvana Insurance

Nirvana Insurance, a San Francisco, CA-based provider of insurance for physical operations, raised $57M in Series B funding.

The round was led by Lightspeed Venture Partners with participation from General Catalyst and Valor Equity Partners.

The company intends to use the funds to make new investments in its AI and IoT capabilities while continuing to build its customer service, underwriting, and product development teams.

Founded in early 2021 by CEO Rushil Goel, Nirvana is using telematics data to provide truck insurance to help fleets mitigate risk, improve driver performance, drop costs, and make the insurance process easier for everyone. Its Safety Platform features a dashboard with AI-powered monitoring tools, enabling proactive risk-reducing and cost-saving changes that optimize routing, improve driver coaching, and help avoid fines. Additionally, through the online portal and availability of data from telematics and dashboard cameras, Nirvana decreases the time it takes to process claims, helping fleets prevent fraud and get back on the road more quickly.