SAN FRANCISCO, March 10, 2025 – Nirvana Insurance, a leading provider of AI-driven commercial trucking insurance, announced today that it has secured $80 million in Series C funding. This latest investment values the company at approximately $850 million and follows a year of significant growth for the company.
Nirvana Insurance saw premiums exceed $100 million, more than doubling year-over-year. General Catalyst led the funding round, with continued support from existing investors Lightspeed Venture Partners and Valor Equity Partners. The capital infusion will fuel Nirvana’s expansion efforts and ongoing advancements in the application of technology to commercial fleet insurance.
“Nirvana is transforming the insurance experience with AI that helps us better understand the real world risk that every individual fleet presents,” stated 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.”
The company has developed an AI-powered commercial insurance platform that has achieved considerable scale, boasting best-in-class loss ratios. Nirvana integrates data from IoT devices embedded in telematics systems across fleets, analyzing over 20 billion miles of real-world driving data. This data is used by its proprietary AI models for enhanced risk assessment, underwriting, pricing, claims processing, and an improved customer experience, according to the company.
Nirvana’s technology is designed to permeate every aspect of its operations, delivering increased efficiency and accuracy through:
- Intelligent Personalized Pricing: Analysis of real-time and other telematics data enables coverage and pricing that is tailored to actual fleet safety metrics, resulting in more dynamic and fairer policies.
- Revolutionary Claims Process: AI-powered automation streamlines claims processing, reducing the administrative burden and accelerating resolution times, helping fleets get back on the road more quickly.
- Faster, Smarter Underwriting: Nirvana’s real-time risk assessment platform allows underwriters to make decisions up to 15x faster, providing accurate quotes in a matter of minutes, versus weeks.
- Next-Generation Fleet Safety: The Nirvana Safety Intelligence Platform provides real-time insights, automated safety alerts, and expert-driven guidance to assist fleets in proactively minimizing risk.
“Our technology integrates an exceptional breadth of data from sensors and across the insurance ecosystem,” said Abhay Mitra, Co-Founder and CTO. “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.”
Hemant Taneja, CEO and Managing Director of General Catalyst, commented on the investment, saying, “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. 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 dedicated to leveraging data to revolutionize the commercial insurance industry. The company offers more responsive, equitable, and personalized insurance solutions that incentivize positive behaviors and collaborates with the insured to mitigate their risks. For additional information, visit nirvanatech.com.
