Nirvana Insurance is transforming commercial fleet insurance by leveraging IoT sensor data from trucks to assess risk and offer usage-based policies. Founded in 2021, Nirvana uses telematics and AI to help fleets improve safety, reduce costs, and streamline insurance.

CEO Rushil Goel brings relevant expertise from his time as VP Product at Samsara, where he helped scale the business to $400M ARR and 20,000+ fleet customers. Nirvana has raised $82M to date, including a $57M Series B led by Lightspeed Venture Partners. The company plans to expand beyond trucking to cover risk for factories, warehouses, and the broader supply chain.

By joining Nirvana at this early stage, employees have an opportunity to help define a new category at the intersection of insurtech, IoT, and AI. However, the company will need to prove its telematics-based underwriting approach can consistently outperform traditional fleet insurance models as it scales. Nirvana also faces competition from other insurtechs and incumbent carriers (e.g., HDVI and Flock) developing similar data-driven offerings.