AI-driven insurer Nirvana Insurance announced Thursday it has secured a pre-emptive $100 million Series D funding round to expand the company’s AI-powered commercial insurance offerings. The round was led by Valor Equity Partners, with participation from prior rounds’ lead investors Lightspeed Venture Partners and General Catalyst. The Series D follows closely on the heels of an $80 million Series C completed in March. According to a company release, Nirvana aims to build the world’s first AI-powered operating system for insurance. That expansion includes developing unique solutions to better incorporate telematics into insurance products. Rushil Goel, Nirvana’s co-founder and CEO, told FreightWaves in an email that one reason for the company’s rapid expansion is growing demand for better commercial vehicle insurance offerings. Goel noted that in 2025 alone, Nirvana has scaled its fleet and non-fleet businesses, doubling their size while maintaining best-in-class loss ratios. One of those offerings is insurance for non-trucking commercial fleets, such as those for general and artisan contractors, service fleets, wholesalers, distributors and manufacturers. On the claims side, the company has used its AI innovations to shift to handling 100% of claims in-house while accelerating the claims closure rate. According to Goel, the in-house claims operation has achieved double the industry average closure rate within 30 days. Cost factors are another challenge Nirvana hopes to help fleets address. Goel noted that policies continue to grow more expensive for cash-strapped fleets. “Cost and sustainability continue to be the biggest challenge — we’re seeing the insurance industry raise rates…
