Nirvana Insurance, a San Francisco, CA-based AI-driven commercial trucking insurer, raised $80M in Series C funding, at $850M valuation.
The round was led by General Catalyst with participation from existing investorsĀ Lightspeed Venture Partners and Valor Equity Partners.
The company intends to use the funds for its rapid expansion and continued technological advancements in commercial fleet insurance.
Led by CEO Rushil Goel and CTO Abhay Mitra, Nirvana Insurance operates for the commercial insurance industry delivering a personalized insurance solutions that reward the right behaviors and partners with insured to reduce their risks.
The company is building AI-powered insurance providing:
- Intelligent Personalized Pricing āBy analyzing real-time and historical telematics data, Nirvana customizes coverage and pricing based on actual fleet safety measures, creating fairer, more dynamic policies.
- Claims ProcessĀ ā AI-powered automation streamlines claims handling, reducing administrative burden and expediting resolutions so fleets can get back on the road faster.
- Smarter UnderwritingĀ ā Nirvana’s real-time risk assessment platform enables underwriters to make decisions faster, ensuring accurate quotes in minutes, not weeks.
- Next-Generation Fleet Safety ā Nirvana’s safety intelligence platform provides real-time insights, automated safety alerts, and expert-driven guidance to help fleets proactively reduce risk.
FinSMEs
10/03/2024