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Venture Capital News: Nirvana Raises $57M Series B Financing

SAN FRANCISCO, CA, Nirvana Insurance, provider of modern insurance for physical operations, today announced a $57 million Series B funding round.
Lightspeed Venture Partners reaffirmed its commitment to Nirvana by returning to lead the round, with additional participation from General Catalyst and Valor Equity Partners. The new funding positions Nirvana to continue helping fleets utilize their IoT and sensor data to access insurance cost savings and customized risk management solutions.

Nirvana was founded in early 2021 with the intent of bringing the analog commercial insurance landscape into the modern digital world, using vast troves of IoT data derived from sensors already aboard most heavy trucks. The company is using telematics data to transform the stubbornly analog world of truck insurance to help fleets mitigate risk, improve driver performance, drop costs, and make the insurance process easier for everyone. The upside is improved safety for everyone on the road.
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