The significant investment, led by General Catalyst, underscores strong investor confidence in the company’s innovative approach to commercial auto insurance.

Existing investors, Lightspeed Venture Partners and Valor Equity Partners, also participated in the round, demonstrating continued support for Nirvana’s growth trajectory. Since its inception in 2021, the company has now accumulated approximately $160 million in total funding.

Nirvana, which leverages data and technology to provide tailored insurance solutions for the trucking industry, reports having generated over $100 million in premiums. The startup’s success lies in its ability to offer dynamic pricing and streamlined processes, addressing the unique challenges faced by commercial truck drivers and fleet operators.

Looking ahead, Nirvana plans to utilize the new capital to expand its product offerings, with a particular focus on developing a comprehensive commercial auto coverage solution. This expansion aims to further solidify the company’s position in the competitive insurtech landscape.

The substantial investment reflects the growing interest in technology-driven solutions within the insurance sector, particularly those addressing the complexities of the trucking industry. Nirvana’s ability to attract significant funding in a challenging economic climate highlights the potential for innovative insurtech companies to disrupt traditional markets.

Rushil Goel, CEO of Nirvana Insurance, said:  “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 Co-Founder and CTO Abhay Mitra, added: “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.”