Shift Technology becomes the 5th unicorn of the Agoranov incubator
Shift Technology, the provider of AI-based decision automation and optimization solutions for the insurance industry, today announced that the company has raised $220 million in a Series D, round led by Advent International, via Advent Tech, with participation from Avenir Growth and Bpifrance, via its Large Venture fund, as well as historical investors Accel, Bessemer Venture Partners, General Catalyst and Iris Capital. This funding round represents a total investment of $320 million in Shift. Thanks to this new round of financing, the company aims to create the world's largest data science center dedicated to the insurance sector in France within two years, with more than 300 data scientists.
"We want to make Shift a French champion and an international leader that will be able to provide insurers with the technological solutions they need to be close to their policyholders and meet their expectations. By trusting us from the beginning, French insurers have played a major role in Shift's success."
Jeremy Jawish, CEO and co-founder of Shift.
Shift Technology thus becomes the 5th unicorn accompanied by the Agoranov incubator, after Criteo (now listed in NASDAQ), Doctolib, Dataiku and Alan :
- 3 of these 5 unicorns are specialized in artificial intelligence: Shift Technology, Dataiku and Criteo;
- 2 unicorns are in the health sector: Doctolib and Alan (which became a unicorn last week), which are the only two unicorns in France in the health sector for the time being;
- 2 unicorns are in the field of "insurance tech", i.e. technological revolutions that affect the insurance industry: ShiftTechnology and Alan, which are the only two French unicorns in this field as well
"Thanks to the success of the entrepreneurs we have the privilege of supporting, Agoranov is delighted and proud to contribute to enriching the pipeline of French and European scale-ups"
Jean-Michel Dalle, director of the Agoranov incubator.
More informations here : https://www.shift-technology.com/fr/d-round/
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