Trucking insurtech total funding tops $25M

Insurtech Nirvana Insurance, based in San Francisco, whose technology-driven platform gathers data from sensors on commercial truck fleets, said Wednesday it has closed a $22 million Series A Funding round, bringing the total it has raised to more than $25 million.

Nirvana said in its statement the round was led by Menlo Park, California-based Lightspeed Venture Partners, with participation from others.

The company, which was founded last year, said in its statement that it connects data points from telematics and artificial intelligence-powered dashcams, as well as public sources such as the Department of Vehicles, to provide instantaneous quotes.

Factors that are assessed include location, speed, video, erratic driving, weather and traffic. Nirvana also gives regular recommendations to its clients, including specific coaching for drivers as well as routes to avoid, the company said.

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