Overview
- Valor Equity Partners led the preemptive round, with Lightspeed Venture Partners and General Catalyst increasing their stakes.
- Nirvana reports underwriting models trained on more than 30 billion driving miles that enable real-time pricing and up to 20% upfront safety discounts.
- The company says it now serves thousands of motor carriers from owner-operators to large fleets, with premiums doubling year over year and headcount at roughly 200.
- CEO Rushil Goel says Nirvana now handles 100% of claims in-house and is closing claims within 30 days at about twice the industry average rate.
- Total funding tops $260 million, marking a sizable raise during a year of sharply lower insurtech investment activity.