Nirvana Insurance Secures $80M Series C to Redefine Commercial Insurance with AI

SAN FRANCISCO, March 10, 2025 /PRNewswire/ -- Nirvana Insurance, the leading AI-driven commercial trucking insurer, today announced an $80 million Series C funding round, valuing the company at nearly $850 million. This round came after a momentous year for Nirvana, which exceeded $100 Million in Premiums, more than doubling year over year. The round was led by General Catalyst with continued support from existing investors Lightspeed Venture Partners and Valor Equity Partners. This investment will fuel Nirvana's rapid expansion and continued technological advancements in commercial fleet insurance.

Nirvana has built the first AI-powered commercial insurance platform that has reached significant scale. Nirvana has achieved best in class loss ratios with the strong support of top tier reinsurers with trillions in assets. Nirvana fully integrates IoT data that is embedded in telematics devices across fleets, and has analyzed over 20 billion miles of real world driving. This data asset powers its proprietary AI models, delivering superior risk assessment, underwriting, pricing, claims processing, and an overall better customer experience.

"Nirvana is transforming the insurance experience with AI that helps us better understand the real world risk that every individual fleet presents," said Rushil Goel, CEO of Nirvana Insurance. "This investment allows us to scale our impact, ensuring fleets have access to personalized, real-time insurance solutions that reward safety - it's a fairer approach for the fleets, and a more profitable approach for an insurance carrier."

Nirvana is building AI-powered insurance for a safer, smarter industry. Nirvana's AI permeates every aspect of its operations, delivering unprecedented efficiency and accuracy:

• Intelligent Personalized Pricing – By analyzing real-time and historical telematics data, Nirvana tailors coverage and pricing based on actual fleet safety measures, creating fairer, more dynamic policies.
• Revolutionary Claims Process – AI-powered automation streamlines claims handling, reducing administrative burden and expediting resolutions so fleets can get back on the road faster.
• Faster, Smarter Underwriting – Nirvana's real-time risk assessment platform enables underwriters to make decisions up to 15x faster, ensuring accurate quotes in minutes, not weeks.
• Next-Generation Fleet Safety – Nirvana's Safety Intelligence Platform provides real-time insights, automated safety alerts, and expert-driven guidance to help fleets proactively reduce risk.

Nirvana has built an AI-powered insurance platform that permeates all of its operations to provide better pricing, underwriting, claims processing, and customer service. "Our technology integrates an exceptional breadth of data from sensors and across the insurance ecosystem," said Co-Founder and CTO Abhay Mitra. "By harnessing this data with our suite of specialized AI models—from predictive analytics to large reasoning models—we deliver what matters most: more accurate pricing, faster claims resolution, and a dramatically simpler experience for our customers that traditional insurers simply cannot match."

"Insurance is traditionally a technologically bereft market, ripe for change. Nirvana is proving a disruptive model, finding rich data at scale and building AI around the complex steps of providing commercial insurance from quote through claims," said Hemant Taneja, CEO and Managing Director of General Catalyst. "We've been excited to be a partner in their incredible results, and this investment will accelerate Nirvana even further."

About Nirvana Insurance
Nirvana Insurance is on a mission to harness the power of data to revolutionize the commercial insurance industry. Nirvana delivers faster, fairer, and more personalized insurance solutions that reward the right behaviors and partners with insured to reduce their risks. For more information, visit nirvanatech.com.

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SOURCE Nirvana Tech