Shift Technology Raises $28M in Series B Funding
Summary
Shift Technology, a Paris, France-based software-as-a-service platform that uses advances in artificial intelligence (AI) to enable insurers to detect fraud, raised $28m in Series B funding.The round was co-led by Accel and General Catalyst, with participation from previous investors Elaia Partners and Iris Capital.Founded in 2014 by CEO Jeremy Jawish, David Durrleman, and Eric Sibony, Shift Technology has developed Force™, a decision support platform that allows insurers across the globe to automate fraud detection processes and lower costs per claim.Over the past year, Shift Technology has more than doubled in headcount and has grown its revenue base by over 800%.It also launched its Healthcare solution, which has already treated 300M health claims in France with providers including AG2R La Mondiale.
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