Shift Technology Valuation, Funding & Investors

Shift Technology is valued at $1B as of May 2021.

Last Shift Technology valuation

$1B

Series D · May 2021

Last Shift Technology funding round

$220M

Series D · May 2021

Cumulative funding Shift Technology raised

$320M

across 6 funding rounds

Key investors in Shift Technology

  • Accel
  • IRIS
  • General Catalyst
  • Elaia
  • Bessemer Venture Partners
  • Advent International

Shift Technology Overview

About Shift Technology

Shift Technology is a Paris-headquartered software provider of AI-powered fraud detection and claims automation for insurers. The company processes insurance transactions across claims adjudication, underwriting, and policy lifecycle management in over 55 countries. Shift Technology integrates with core systems at carriers like AXA and Generali to reduce fraud losses and accelerate resolutions. Founded in 2014, it received Frost & Sullivan’s 2020 Global Claims Solutions Market Leadership Award for its machine learning models.


Founded

2013

HQ

FranceParis

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Valuation

$1B (May 2021)

Shift Technology Valuation

Shift Technology is currently valued at $1B, based on its Series D in May 2021.

The $220M round was led by Advent International, with participation from General Catalyst, Bessemer Venture Partners, IRIS, Avenir and Accel.

Shift Technology valuation by funding round

Shift Technology valuation by funding round
DateStageValuation
May 2021Series D$1B

Shift Technology Funding History

Shift Technology has raised a total of $320M across 6 funding rounds.

Shift Technology's first fundraising round was a $100K pre-seed round in October 2013. The most recent completed round was a $220M Series D in May 2021.

Shift Technology funding rounds

Shift Technology funding rounds
DateStageInvestorsRaisedValuationDeal Summary
May 2021Series DAdvent International (lead); General Catalyst; Bessemer Venture Partners; IRIS; Avenir; Accel$220M$1BShift Technology, a Paris- and Boston-based SaaS provider of AI-driven decision automation and optimization solutions for the global insurance industry, closed a $220 million Series D funding round on May 6, 2021, led by Advent International through Advent Tech, with participation from Avenir and prior Series C investors Accel, Bessemer Venture Partners, General Catalyst, and Iris Capital. This round brought total funding to $320 million and elevated the company's market valuation to more than $1 billion, achieving unicorn status. The investment targets expansion in the U.S. property and casualty and health insurance markets, as well as growth in Europe and Asia, alongside R&D for new AI solutions addressing underwriting, claims, subrogation, and compliance. Founded in 2014, Shift Technology specializes in fraud detection, claims automation, and policy lifecycle optimization, serving over 100 customers across 25 countries and analyzing nearly 2 billion claims. The funding supports its mission to drive digital transformation for insurers, enabling better decision-making, improved margins, and competition with newer tech-enabled players. CEO Jeremy Jawish highlighted the potential of AI in insurance processes, while Advent's Thomas Weisman praised Shift's role in automating manual claims handling. Advent International, with a focus on technology growth investments including prior insurance tech deals like CCC and TransUnion, marked this as its sixth growth equity investment that year. The round positions Shift to penetrate high-opportunity sectors like U.S. health insurance and enhance its Shift Insurance Suite, launched earlier in 2021, amid a competitive insurtech landscape.
Mar 2019Series CBessemer Venture Partners (lead); General Catalyst; IRIS; Accel$60M-Shift Technology, a Paris-based artificial intelligence solutions provider for the insurance industry, closed a $60 million Series C funding round on March 4, 2019, led by Bessemer Venture Partners with participation from previous investors Accel, General Catalyst, and Iris Capital. This brought total funding to $100 million at that time. The company specializes in AI-powered fraud detection and claims processing solutions, with its flagship product called Force analyzing hundreds of millions of claims to identify potential fraud. At the time of the Series C, Shift Technology had more than 200 employees across offices in Paris (headquarters), Boston, Tokyo, London, Hong Kong, Madrid, Singapore, Toronto, and Zurich, serving more than 70 clients in over 25 countries including AXA Spain, Liberty Mutual, CNA Financial Corporation, and MS&AD Insurance Group. The capital would support expansion in US and Japanese markets, research and development, new product development, and hiring of data scientists, developers, and sales and marketing staff. The company later achieved unicorn status with a Series D round led by Advent International in which it raised $220 million at a valuation exceeding $1 billion, bringing total funding to $320 million.
Oct 2017Series BAccel (lead); General Catalyst (lead); Elaia; IRIS$28M-Shift Technology, founded in 2014 and headquartered in Paris, develops AI and SaaS-based software to detect insurance fraud by analyzing and scoring claims in real-time, alerting handlers to suspicious activity, and offering claim automation to streamline processes from filing to payout. The company also expanded into healthcare solutions, processing 300 million health claims by late 2017. It had secured 45 clients globally, including major European insurers, and had processed over 100 million claims across property and casualty insurance in Europe, Asia, and the Americas. The company demonstrated strong traction, convincing 45 insurers to adopt its platform to save on fraud losses, where manual processes catch only 15% of fraudulent claims while Shift's software identifies 75% of suspicious ones. On October 23, 2017, Shift Technology raised $28 million in a Series B funding round co-led by Accel and General Catalyst, with participation from existing investors Elaia Partners and Iris Capital. This followed a $10 million Series A led by Accel, bringing total funding to $38 million. The round supported international expansion with new offices in New York and Tokyo, team growth (having doubled staff over the past year), and product development, including the recently launched healthcare solution. Later rounds, such as the 2022 Series D of $220 million led by Advent International, valued the company over $1 billion, with participation from prior investors including Accel, General Catalyst, and Iris Capital, but these pertain to subsequent developments.
May 2016Series AAccel (lead); Elaia; IRIS; HDS Capital$10M--
Dec 2014SeedIRIS (lead); Elaia; Accel$2M--
Oct 2013Pre-seedWILCO$100K--

Who has invested in Shift Technology?

9 investors have backed Shift Technology across its funding rounds, including Accel, IRIS, General Catalyst, Elaia, Bessemer Venture Partners and Advent International.

Lead investors include Advent International, Bessemer Venture Partners, Accel, General Catalyst and IRIS.


Shift Technology Investors

Investors in Shift Technology by funding rounds participated
InvestorHQRoundsRoleFirst check
IRISFranceParis5LeadDec 2014
AccelUnited StatesPalo Alto, CA5LeadDec 2014
General CatalystUnited StatesSan Francisco, CA3LeadOct 2017
ElaiaFranceFrance3ParticipantDec 2014
Bessemer Venture PartnersUnited StatesSan Francisco, CA2LeadMar 2019
Advent InternationalUnited StatesBoston, MA1LeadMay 2021
WILCOFranceParis1ParticipantOct 2013

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Shift Technology Competitors

Shift Technology competitors include listed companies like ODDITY Tech, SoundHound, Shenzhen Intellifusion and SenseTime Group, and private ones like PolyAI and Doppel.

Public and private companies comparable to Shift Technology
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
ODDITY TechUnited StatesUnited StatesPublicly listed$810M$131M$889M1.8x
PolyAIUnited KingdomLondonPrivate--$750M-
DoppelUnited StatesLos Angeles, CAPrivate--$600M-
SoundHoundUnited StatesUnited StatesPublicly listed$169M$19M$2.7B11.3x
Shenzhen IntellifusionChinaChinaPublicly listed$200M($3M)$3.1B14.6x
SenseTime GroupChinaChinaPublicly listed$748M($70M)$6.2B5.8x

Shift Technology Public Comps

Shift Technology is still privately-owned, but its public comps include Appier Group, Rackspace, Extreme Vision, iFLYHealth, Rezolve AI, Beijing CTJ Info Tech, Optasia, ODDITY Tech, Braiin and ZoomInfo.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Appier Group$281M$44M3.4x2.9x21.6x15.7x
Rackspace$2.7B$244M1.5x1.6x17.1x15.0x
Extreme Vision$44M($6M)22.8x11.6x(163.7x)-
iFLYHealth$136M($7M)7.7x6.2x(150.8x)(144172.5x)
Rezolve AI$47M($109M)23.3x4.0x(10.0x)(19.3x)
Beijing CTJ Info Tech$123M$13M5.3x4.9x51.3x34.6x
Optasia$265M$79M4.3x3.6x14.5x9.1x
ODDITY Tech$810M$131M1.5x1.8x9.6x18.3x

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Common questions about Shift Technology

When was Shift Technology founded?Shift Technology was founded in 2013.
Where is Shift Technology headquartered?Shift Technology is headquartered in Paris, France.
Is Shift Technology publicly listed?No, Shift Technology is a private, VC-backed company.
What is Shift Technology's valuation?Shift Technology was last valued at $1B in its Series D in May 2021.
How much funding has Shift Technology raised?Shift Technology has raised $320M across 6 funding rounds.
What was Shift Technology's last funding round?Shift Technology's last funding round was a $220M Series D in May 2021, led by Advent International.
Who are Shift Technology's investors?Shift Technology's investors include IRIS, Accel, General Catalyst, Elaia, Bessemer Venture Partners, Advent International, WILCO, Avenir and HDS Capital.
Which companies are comparable to Shift Technology?Companies comparable to Shift Technology include ODDITY Tech, PolyAI, Doppel, SoundHound, Shenzhen Intellifusion and SenseTime Group.

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