InsureTech Startup Shift Technology Brings In $28 Million

Shift Technology announced it has raised $28 million in Series B financing led by Accel Partners, General Catalyst Partners, and Elaia Partners. Iris Capital also participated.

Shift Technology’s SaaS solution aims to help insurance companies improve and scale fraud detection. Its AI machine, named Force, draws on a database of “over 100 million” P&C claims and alerts evaluated and classified by fraud handlers, and provides clear, actionable insights on which indicators make the claim suspect.

Shift Technology will use the funds to open offices in New York and Tokyo in Q1 2018.