Nirvana Insurance announced it has raised a preemptive $100 million Series D financing led by Valor Equity Partners, with existing investors Lightspeed Venture Partners and General Catalyst doubling down significantly as the company positions its telematics-driven platform as a new foundation for commercial insurance.
The San Francisco-based company, which describes itself as an AI-native commercial insurer, said the round comes closely on the heels of its Q1 2025 Series C and that its valuation has nearly doubled over that period to $1.5 billion. Nirvana said the new capital will help it build what it calls the world’s first AI-powered operating system for insurance and expand its telematics and insurance solution beyond its current product sets.
Nirvana’s pitch centers on using real-time fleet and telematics data to improve underwriting, pricing, and claims. The company said its predictive models are trained on more than 30 billion miles of fleet driving data, enabling what it describes as real-time intelligence across core insurance functions. In the announcement, Nirvana also highlighted customer outcomes it says the platform can deliver, including “up to 20% upfront safety discounts,” faster underwriting, “top decile loss ratios,” and faster claims resolution.
The company framed commercial auto insurance, and trucking in particular, as a market under pressure from rising costs. Nirvana pointed to a post-COVID period in which trucking company failures have increased and said insurance costs have been a major driver, arguing that demand is shifting toward insurers that price risk using objective telematics data instead of historical averages.
Nirvana said its platform supports underwriting, claims, pricing, and fleet intelligence for carriers and logistics operators across the U.S., and that its goal is to help fleets operate more safely while lowering costs and enabling profitable underwriting.
KEY QUOTES:
“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.”
Rushil Goel, CEO, Nirvana
“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, Valor Equity Partners
“Nirvana has executed quite flawlessly since Lightspeed first invested in the company’s Seed round back in 2021. Commercial insurance is a trillion-dollar industry stuck in the past, and it’s been incredible to see how quickly Nirvana’s AI models have been able to deliver material benefits to customers. While traditional carriers find themselves underwater because they’re pricing risk with incomplete information, Nirvana uses real driving data to train models that consistently outperform the market, delivering stronger loss ratios, faster claims, and more productive underwriting at scale.”
Raviraj Jain, Partner, Lightspeed
