Lightspeed Capital led a $22m Series A round in Nirvana Insurance.

Lightspeed Capital, a venture capital firm that engages in consumer, enterprise, technology, and cleantech markets, led a $22m Series A round in Nirvana Insurance, a technology-driven platform that modernizes commercial fleet insurance using vast amounts, with participation from General Catalyst, Elad Gil, Fidji Simo, Spike Lipkin, and Sam Hodges. “The analog approach to issuing insurance to commercial fleets is fundamentally broken. The process is confusing, slow, and comes at a high productivity and financial cost. In my time working with more than 20,000 fleets at Samsara, I saw over and over again how these small businesses were completely frustrated with insurance and struggling to survive. Truckers who were doing all the right things and investing in safety, still saw their rates go up every year to the point where it forced them out of business,” Rushil Goel, Nirvana CEO and Co-Founder.