Nirvana raises $100 million

Trucking insurance startup Nirvana Insurance has raised $100 million in Series D funding led by Valor Equity Partners, with participation from Lightspeed Venture Partners and General Catalyst. The round values Nirvana at ~$1.5 billion.

Founded in 2021, the California-based startup has now raised ~$262 million and it claims to have produced more than $100 million in premiums as of March 2025.

“The promise of AI is not incremental; it gives us an opportunity to rethink industries entirely, from first principles and to create the best solutions for the challenges of today and tomorrow. At Nirvana, we’re building insurance the way it needs to exist in the AI era: with data at the center, models trained on billions of real-world miles, and an OS that can redefine underwriting, claims, and services for the industry at scale.” – Nirvana CEO Rushil Goel.

“The generational companies to arise from the artificial intelligence era are those like Nirvana that have purposefully built AI-driven solutions that address fundamental pains in massive legacy industries both rich in data and bogged down by inefficient processes. This round isn’t just about reinforcing Nirvana’s extraordinary approach to proprietary telematics data, deep machine learning (ML) expertise, and compelling execution in underwriting and claims; it’s an opportunity for us to stake a claim in redefining an industry and exploring how Nirvana will apply its ‘N of 1’ AI capabilities to benefit customers beyond market-leading insurance products.” – Vivek Pattipati of Valor Equity Partners.