Nirvana Raises $100 Million Series D to Further Redefine Trillion-Dollar Industry

Proprietary model at intersection of telematics and insurance is strong, real-world proof of AI’s transformational impact on industry rich in data, but mired in process

San Francisco, CA (Dec. 18, 2025) – Nirvana Insurance, the premier AI-native commercial insurer, is pleased to announce it has secured a preemptive USD$100 million of its Series D led by Valor Equity Partners, with previous lead investors Lightspeed Venture Partners and General Catalyst also doubling down significantly. These top firms reconfirm their conviction in Nirvana following closely on the company’s Q1 2025 Series C. In that short time, Nirvana has nearly doubled its valuation, bringing it to a valuation of $1.5 billion. The new capital will accelerate Nirvana’s mission to both build the world’s first AI-powered operating system for insurance and to expand the company’s unique solution at the intersection of telematics and insurance beyond current product sets.

“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,” said Nirvana CEO Rushil Goel. “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.”

Insurance is a perfect industry for an AI-driven rebuild; its value is built on a series of multivariable equations and models applied intelligently to dynamic data. And commercial auto insurance reflects nearly 1% of every retail dollar spent in the U.S. today according to data from Risk Insurance Management Society (RIMS).^[1] Nirvana’s powerful unlock is derived from its bespoke predictive models trained on the telematics data of more than 30 billion miles of fleet driving data, which results in real-time intelligence across underwriting, pricing, and claims. The impact is transformational, not incremental:

• Up to 20% upfront safety discounts for customers
• Dramatically faster underwriting and underwriter efficiency
• Top decile loss ratios
• Industry leading claims satisfaction and claims resolution speed

This proven top- and bottom-line impact for customers has not only led to rapid expansion and a rich revenue stream for Nirvana, but has put the company at the forefront of driving AI transformation in a legacy industry ripe for improvement.

“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,” said Vivek Pattipati of Valor Equity Partners. “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.”

Commercial auto – especially trucking – keeps the nation moving, particularly during the holiday season when consumer demand peaks. After a dramatic COVID-era surge, the past two years have witnessed the collapse of more trucking companies than in the previous decade, driven in large part by insurance costs. This economic pressure is accelerating demand for insurers built around objective telematics data rather than historical averages – a problem Nirvana’s AI-native platform and approach is perfectly suited to solve.

“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,” said Raviraj Jain, Partner at Lightspeed. “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.”

Notes

1. RIMS: Average total cost of risk for businesses grows (August 16, 2019).

About Nirvana Insurance

Nirvana is the world’s premier AI-native commercial insurer, founded to rebuild insurance from the ground up using real-time fleet and telematics data. Nirvana powers underwriting, claims, pricing, and fleet intelligence for carriers and logistics operators across the U.S. Nirvana’s platform has analyzed 30+ billion miles of real-world driving data and enables safer fleets, lower costs, and profitable underwriting. For more information, visit www.nirvanatech.com.

Source: Nirvana Insurance

Tags: Artificial Intelligence (AI), funding, Risk and Insurance Management Society (RIMS), seed funding, Telematics, Transformation