Shift Technology, the French AI based insurtech startup, raised $220 million in a series D funding round from Advent International, Avenir Growth Capital, Accel, Bessemer Venture Partners, General Catalyst, Iris Capital and Bpifrance, at a valuaiton of over $1billion. This makes Shift the latest french fintech startup to enter the unicorn club.
Founded in 2013 by David Durrleman, Eric Sibony and Jeremy Jawish, Paris based Shift is a provider of AI-driven decision automation and optimization technology for the global insurance industry. The startup, which also operates in the UK and the US, will expand its team of data scientists, particularly in France.
