{"id":6332,"date":"2019-03-11T08:31:23","date_gmt":"2019-03-11T08:31:23","guid":{"rendered":"https:\/\/fintech.global\/digitalinsurtechforum\/?p=6332"},"modified":"2019-03-11T08:31:23","modified_gmt":"2019-03-11T08:31:23","slug":"shift-technology-accelerates-growth-drive-following-60m-series-c","status":"publish","type":"post","link":"https:\/\/fintech.global\/digitalinsurtechforum\/shift-technology-accelerates-growth-drive-following-60m-series-c\/","title":{"rendered":"Shift Technology accelerates growth drive following $60m Series C"},"content":{"rendered":"<p><strong>AI-powered InsurTech\u00a0Shift Technology is powering on with its expansion plans following a\u00a0$60m Series C funding round led by\u00a0Bessemer Venture Partners.<\/strong><\/p>\n<p>The round, which was joined by previous investors Accel, General Catalyst and Iris Capital,\u00a0 brought Shift\u2019s total investment to\u00a0<span class=\"xn-money\">$100m.<\/span><\/p>\n<p>The company has planned to use the funding the support its\u00a0R&amp;D and product development as well as its global expansion especially in the US and Japan.<\/p>\n<p>Shift has been expanding both\u00a0its US headquarters in\u00a0<span class=\"xn-location\">Boston<\/span>\u00a0and its offices in\u00a0<span class=\"xn-location\">Tokyo.\u00a0<\/span>The company also revealed\u00a0a new recruitment drive\u00a0including plans to hire new data scientists, and developers as well as sales and marketing professionals.<\/p>\n<p>Founded in 2014, the Shift Technology uses AI and SaaS technology to help insurance companies detect fraud. The platform is able to analyse and score claims made, making real-time alerts to fraud fraud prevention handlers for any suspicious claims made.<\/p>\n<p>The Paris-headquartered company also offers a claim automation solution which helps to streamline processes from the initial claim filling through to payout, reducing handling time from weeks to minutes.<\/p>\n<p>Bessemer partner Charles\u00a0Birnbaum said, \u201cWe are thrilled to partner with the\u00a0Shift team.\u00a0They have built a powerful AI platform that is transforming the insurance market\u00a0and we are confident\u00a0that they are just getting started\u201d.<\/p>\n<p>\u201cThe Shift team has already had a great deal of success with carriers\u00a0all over the world\u00a0and\u00a0we are excited to support their next phase of growth as they help their customers navigate the digital transformation that is now in full swing\u00a0in this industry.\u201d<\/p>\n<p>The company previously raised\u00a0$28m in\u00a0its Series B round\u00a0co-led by Accel and General Catalyst. Shift also secured a\u00a0$10m Series A funding round also led by Accel.<\/p>\n<div class=\"td-post-content\">\n<p>Copyright \u00a9 2019 FinTech Global<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>AI-powered InsurTech\u00a0Shift Technology is powering on with its expansion plans following a\u00a0$60m Series C funding round led by\u00a0Bessemer Venture Partners. The round, which was joined by previous investors Accel, General Catalyst and Iris Capital,\u00a0 brought Shift\u2019s total investment to\u00a0$100m. The company has planned to use the funding the support its\u00a0R&amp;D and product development as well&#8230; <\/p>\n<div class=\"clear\"><\/div>\n<p><a href=\"https:\/\/fintech.global\/digitalinsurtechforum\/shift-technology-accelerates-growth-drive-following-60m-series-c\/\" class=\"gdlr-info-font excerpt-read-more\">Read More<\/a><\/p>\n","protected":false},"author":10,"featured_media":6221,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/fintech.global\/digitalinsurtechforum\/wp-json\/wp\/v2\/posts\/6332"}],"collection":[{"href":"https:\/\/fintech.global\/digitalinsurtechforum\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fintech.global\/digitalinsurtechforum\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fintech.global\/digitalinsurtechforum\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/fintech.global\/digitalinsurtechforum\/wp-json\/wp\/v2\/comments?post=6332"}],"version-history":[{"count":0,"href":"https:\/\/fintech.global\/digitalinsurtechforum\/wp-json\/wp\/v2\/posts\/6332\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fintech.global\/digitalinsurtechforum\/wp-json\/wp\/v2\/media\/6221"}],"wp:attachment":[{"href":"https:\/\/fintech.global\/digitalinsurtechforum\/wp-json\/wp\/v2\/media?parent=6332"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fintech.global\/digitalinsurtechforum\/wp-json\/wp\/v2\/categories?post=6332"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fintech.global\/digitalinsurtechforum\/wp-json\/wp\/v2\/tags?post=6332"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}