Nirvana Insurance, an AI-driven commercial trucking insurer, has secured an $80m Series C funding round, bringing its valuation close to $850m.
The investment follows a period of rapid growth for the company, which has surpassed $100m in premiums, more than doubling year over year.
The round was led by General Catalyst, with continued backing from existing investors Lightspeed Venture Partners and Valor Equity Partners.
The fresh capital will support Nirvana’s expansion efforts and further technological innovation within its AI-powered insurance platform.
Nirvana provides AI-enhanced commercial insurance tailored for fleet operators, integrating real-time data from telematics devices to improve risk assessment, underwriting, and claims processing. By analysing over 20 billion miles of real-world driving data, Nirvana’s proprietary AI models enable more precise pricing, enhance fleet safety, and optimise claims resolution.
Nirvana Insurance CEO Rushil Goel said, “Nirvana is transforming the insurance experience with AI that helps us better understand the real world risk that every individual fleet presents. 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 Insurance co-founder and CTO Abhay Mitra said, “Our technology integrates an exceptional breadth of data from sensors and across the insurance ecosystem. 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.”
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