Nirvana Insurance, an AI-driven commercial trucking insurer, raised $80mn in a Series C funding round, bringing its valuation near $850mn.
The company has experienced significant growth, surpassing $100 mn in premiums and more than doubling its revenue year over year.
General Catalyst led the round, with continued support from Lightspeed Venture Partners and Valor Equity Partners.
The new funding will drive Nirvana’s expansion and further develop its AI-powered insurance platform.
Nirvana offers AI-enhanced commercial insurance for fleet operators, using real-time telematics data to refine risk assessment, underwriting, and claims processing.
Its AI models analyze over 20bn miles of driving data, enabling more accurate pricing, improving fleet safety, and streamlining claims resolution.
CEO Rushil Goel said the company is using AI to better assess fleet risk, allowing insurers to offer personalized, real-time coverage that rewards safety (see 7 New Potential and Opportunity of Telematics in Car Insurance).
He noted that this approach benefits both fleets and insurers.
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
Nirvana Insurance CEO Rushil Goel
Co-founder and CTO Abhay Mitra highlighted the platform’s ability to integrate data from sensors and the insurance ecosystem.
He said Nirvana’s AI models improve pricing accuracy, speed up claims processing, and simplify the customer experience beyond what traditional insurers offer.
Our technology integrates an exceptional breadth of data from sensors and across the insurance ecosystem.
Nirvana Insurance co-founder and CTO Abhay Mitra
“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,” Abhay Mitra said.
Nirvana Insurance, founded in 2021, is a San Francisco-based company specializing in AI-driven commercial trucking insurance. The company leverages real-time data from telematics devices to enhance risk assessment, underwriting, and claims processing.
Nirvana’s leadership team includes CEO and co-founder Rushil Goel, CTO and co-founder Abhay Mitra, and Head of Insurance and co-founder Alex Carges.
Nirvana Insurance, an AI-driven commercial trucking insurer, has secured significant funding across several rounds. In 2022, the company raised $22mn in a Series A round. The following year, it secured $57mn in a Series B round.
Most recently, in March 2025, Nirvana Insurance announced an $80mn Series C funding round, bringing its valuation close to $850mn.
