03 / 05 / 2019

Shift Technology Raises $60M in C-Round

Shift Technology, a Paris-based a provider of AI-powered claims fraud detection and other claims related applications to the global insurance industry, announced that it has closed a C-round investment of $60 million, bringing total investment in the company to $100 million. Bessemer Venture Partners (Redwood City, Calif.) led the round and was joined by previous investors including Accel (Palo Alto, Calif.), General Catalyst (Cambridge, Mass.) and Iris Capital (Paris), Shift reports. The vendor says the investment will support its expansion, bolstering Shift’s existing global presence, particularly in the U.S. and Japanese markets, as well as R&D and new product development.