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# Shift Technology raises $220m Series D led by Advent International
- URL: https://www.ai-360.online/shift-technology-raises-220m-series-d-led-by-advent/
- Published: 2021-05-06T12:00:00.000Z
- Updated: 2026-10-26T19:30:33.000Z
- Description: Shift Technology closed a US$220 million Series D led by Advent International on 6 May 2021, taking disclosed funding to US$320 million and a valuation above US$1 billion.
- Author: AI-360
- Tags: BFSI, #company, #company-shift-technology, News, Funding, 3. Insurance AI, #industry-insurance

[Shift Technology](https://www.shift-technology.com/?ref=ai-360.online) closed a US$220 million Series D investment round on 6 May 2021, [the Paris-based insurance AI company said in its newsroom release](https://www.shift-technology.com/resources/news/shift-technology-secures-series-d?ref=ai-360.online). Advent International led the round through Advent Tech, with participation from Avenir and others. Prior Series C investors Accel, Bessemer Venture Partners, General Catalyst and Iris Capital also rejoined.

The company said the round took total investment to US$320 million and a market valuation of more than US$1 billion. Proceeds were earmarked to expand in the United States, Europe and Asia, deepen penetration of the US property and casualty market, enter health insurance, and fund research and development on decision automation and optimisation for insurers.

Thomas Weisman, a director on Advent’s technology investment team in London, said Shift’s SaaS suite was helping insurers reshape manual claims processes in a safer and more automated way. Jeremy Jawish, chief executive and co-founder of Shift, said the company was only beginning to apply AI-based decision automation across the policy lifecycle.

At announcement Shift said it served more than 100 customers in 25 countries and had analysed nearly two billion claims. Earlier in January 2021 it had launched the Shift Insurance Suite, extending beyond fraud detection and claims automation into underwriting, subrogation and compliance. Funding and valuation figures are as stated by the company and Advent in the 6 May 2021 release.

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