Nirvana raises $80 million

Trucking insurance startup Nirvana Insurance announced an $80 million Series C funding round, valuing the company at nearly $850 million. The round was led by General Catalyst with continued support from existing investors Lightspeed Venture Partners and Valor Equity Partners.

Founded in 2021, the California-based startup has now raised ~$160 million and it claims to have produced more than $100 million in premiums.

Nirvana is expanding its product offering with a commercial auto coverage that’s currently being built.

“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.” – Rushil Goel, CEO of Nirvana Insurance.

“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.” – Nirvana Co-Founder and CTO Abhay Mitra.