SHIFT TECHNOLOGIES MANUAL
“Shift’s advanced suite of SaaS products is helping insurers to reshape manual and often time-consuming claims processes in a safer and more automated way. Thomas Weisman, a director on Advent’s technology investment team in London, said Shift has made a name for itself in the insurance world since it was first founded. The funding will also drive R&D efforts in the creation of new tech for the insurance industry. The company said the latest investment will allow it to expand its presence in key locations including the US, Europe and Asia. Phaseshift Technologies is developing a Computational Materials Engineering (CME) platform to help accelerate the Research and Development of High-Performance Alloys. “We have only just scratched the surface of what is possible when AI-based decision automation and optimisation is applied to the critical processes that drive the insurance policy life cycle,” he said. Shift Technology’s CEO and co-founder, Jeremy Jawish, said the team has worked to provide insurers with the technology solutions they need. It has offices in Paris, Boston, Tokyo, London, Madrid, Zurich, Singapore, Toronto, Sao Paulo and Hong Kong. Shift Technology is a technology startup that specializes in providing automation and optimization services for the global insurance industry. The company now serves more than 100 customers in 25 different countries and said it has analysed nearly 2bn claims to date. The falls have accelerated recently, with the share price down 17 in the last three months. ‘We have only just scratched the surface of what is possible’įounded in France in 2014, Shift Technology started out developing fraud detection and claims automation software.Īt the beginning of this year, it launched Shift Insurance Suite, which brings its AI-based decision automation technology to other processes such as underwriting, subrogation and compliance. Shift Technologies may have better days ahead, of course we've only looked at a one year period. We're transforming the used car industry with a technology-driven, hassle-free customer experience. It gives the company a market valuation of more than $1bn, making it the latest European start-up to hit unicorn status. About Us Shift Our mission is to make buying and selling cars fun, fair, and accessible to everyone. The latest funding round brings total investment in Shift to $320m.
SHIFT TECHNOLOGIES SERIES
Previous Series C backers Accel, Bessemer Venture Partners, General Catalyst and Iris Capital also joined the round.
The Series D funding round was led by Advent International, through Advent Tech, with participation from Avenir and others.
Shift Technology, which develops AI for insurance fraud detection, has raised $220m in funding. The insurance-focused SaaS company has been valued at more than $1bn after raising $220m in Series D funding.