San Francisco-based insurance platform Nirvana has raised US$80 million in Series C funding aimed at improving its services for trucking fleets and individual drivers.

The funding was led by General Catalyst, with participation from Lightspeed Venture Partners and Valor Equity Partners, bringing Nirvana’s valuation to US$830 million.

Nirvana focuses on using real-time driving telematics and extensive data to develop and manage insurance policies.

The trucking industry, generating over US$900 billion in annual revenue and employing 8.5 million people in the US, faces challenges due to newly proposed tariffs on imports from Canada and Mexico. These tariffs, announced by US President Donald Trump, are likely to raise operational costs, especially for small carriers.

The new funding will assist Nirvana in expanding its technology and developing tools for trucking businesses dealing with rising operational costs.

Recent Nirvana developments