Overview
- Valor Equity Partners led the financing, with Lightspeed Venture Partners and General Catalyst increasing their stakes, and the company characterized the deal as pre-emptive.
- The raise follows an $80 million Series C in March, bringing total funding to more than $260 million, according to company and investor disclosures.
- Nirvana reports year-over-year premium growth has doubled, staff has grown to about 200, and the platform now serves thousands of motor carriers.
- The insurer says models trained on over 30 billion miles of driving data power real-time underwriting and pricing that can reward safer fleets with upfront discounts.
- Nirvana now handles 100% of claims in-house and reports a 30-day closure rate more than double the industry average, while expanding coverage to non-trucking commercial fleets.