Today, I am excited to share that we’ve completed our $80 million Series C raise, led by General Catalyst with support from existing investors Lightspeed Venture Partners and Valor Equity Partners. I am exceedingly grateful for the entire team at Nirvana, whose hard work is reflected in our company’s growth as well as the continued support from our investors.
As a founding team, we know the critical challenges of fleets today:
- Fleets always operate on tight margins, and the current trucking market is one of the toughest ever.
- Despite investments in safety-related technologies like cameras, telematics, and other sensors, fleets see their insurance costs continuing to rise, while that data is not harnessed or used to its full potential.
- Insurance was created to protect business owners and individuals in their time of need, but insurers have not innovated to help fleets and reward them for their commitment to safety. It's not fair to the fleet owners doing the right things. And it doesn’t need to be that way.
Legacy insurers are entrenched in the status quo, unable or unwilling to build the underlying technology needed to fully leverage data, so we built what no other insurance company was able to do: Go deep into the data to treat each fleet uniquely.
With AI and over 20 billion miles of highly granular telematics data points at our core, we’re the only insurance company to invest in end-to-end data integration and modeling architecture from day one. It’s this foundational work that enables our platform to bring in data from various vehicle hardware sensors and harmonize different formats, frequencies, and volumes of information into a usable data asset that powers our predictive risk models.
To you the fleet, this means a few key benefits:
- Intelligent Personalized Pricing – By analyzing real-time and historical telematics data, Nirvana tailors coverage and pricing based on actual driving behavior, creating fairer, more dynamic policies.
- Revolutionary Claims Process –Our in-house claims team has decades of experience and they leverage an AI automation to streamline claims handling - so your claims are resolved faster, and usually at lower expense.
- Faster, Smarter Underwriting – Nirvana’s real-time risk assessment platform enables underwriters to make decisions up to 15x faster, ensuring accurate quotes in hours, not weeks.
- Next-Generation Fleet Safety – Nirvana’s active safety program blends the real-time AI powered insights, automated safety alerts, and DOT violation information with expert-driven guidance to help fleets proactively reduce risk. Our Fleet Safety Managers have deep, real-world experience with some of the world's largest fleets, and they are here to help you use our platform to make data-driven safety decisions, further lowering risk and premiums.
This unique, data centric and modern approach has made Nirvana the vanguard in the space, with well over $100 million in premiums and doubling year over year while delivering best-in-class loss ratios.
The Road Ahead
We have no plans to rest on our laurels. The status quo of insurance — slow underwriting, inaccurate and unfair pricing, a claims process that frustrates, and an unwillingness or inability to make customers safer — permeates the entirety of commercial insurance.
But there is a bright spot: Vast troves of IoT data derived from sensors are available at nearly every phase of the modern supply chain today. Like we’ve capitalized on rich data at scale to deploy AI models to radically change how commercial fleets are insured, we have a firm conviction the markets available to Nirvana are far greater than most insurance companies who will try, ineffectively, to bolt an AI widget on top of their dated tech stack.
Insurance needs wholesale reinvention. Nirvana will deliver it, one customer at a time.
Today, I am excited to share that we’ve completed our $80 million Series C raise, led by General Catalyst with support from existing investors Lightspeed Venture Partners and Valor Equity Partners. I am exceedingly grateful for the entire team at Nirvana, whose hard work is reflected in our company’s growth as well as the continued support from our investors.
As a founding team, we know the critical challenges of fleets today:
- Fleets always operate on tight margins, and the current trucking market is one of the toughest ever.
- Despite investments in safety-related technologies like cameras, telematics, and other sensors, fleets see their insurance costs continuing to rise, while that data is not harnessed or used to its full potential.
- Insurance was created to protect business owners and individuals in their time of need, but insurers have not innovated to help fleets and reward them for their commitment to safety. It's not fair to the fleet owners doing the right things. And it doesn’t need to be that way.
Legacy insurers are entrenched in the status quo, unable or unwilling to build the underlying technology needed to fully leverage data, so we built what no other insurance company was able to do: Go deep into the data to treat each fleet uniquely.
With AI and over 20 billion miles of highly granular telematics data points at our core, we’re the only insurance company to invest in end-to-end data integration and modeling architecture from day one. It’s this foundational work that enables our platform to bring in data from various vehicle hardware sensors and harmonize different formats, frequencies, and volumes of information into a usable data asset that powers our predictive risk models.
To you the fleet, this means a few key benefits:
- Intelligent Personalized Pricing – By analyzing real-time and historical telematics data, Nirvana tailors coverage and pricing based on actual driving behavior, creating fairer, more dynamic policies.
- Revolutionary Claims Process –Our in-house claims team has decades of experience and they leverage an AI automation to streamline claims handling - so your claims are resolved faster, and usually at lower expense.
- Faster, Smarter Underwriting – Nirvana’s real-time risk assessment platform enables underwriters to make decisions up to 15x faster, ensuring accurate quotes in hours, not weeks.
- Next-Generation Fleet Safety – Nirvana’s active safety program blends the real-time AI powered insights, automated safety alerts, and DOT violation information with expert-driven guidance to help fleets proactively reduce risk. Our Fleet Safety Managers have deep, real-world experience with some of the world's largest fleets, and they are here to help you use our platform to make data-driven safety decisions, further lowering risk and premiums.
This unique, data centric and modern approach has made Nirvana the vanguard in the space, with well over $100 million in premiums and doubling year over year while delivering best-in-class loss ratios.
The Road Ahead
We have no plans to rest on our laurels. The status quo of insurance — slow underwriting, inaccurate and unfair pricing, a claims process that frustrates, and an unwillingness or inability to make customers safer — permeates the entirety of commercial insurance.
But there is a bright spot: Vast troves of IoT data derived from sensors are available at nearly every phase of the modern supply chain today. Like we’ve capitalized on rich data at scale to deploy AI models to radically change how commercial fleets are insured, we have a firm conviction the markets available to Nirvana are far greater than most insurance companies who will try, ineffectively, to bolt an AI widget on top of their dated tech stack.
Insurance needs wholesale reinvention. Nirvana will deliver it, one customer at a time.
