About Shift Technology
Shift Technology is a company based in Paris (France) founded in 2014.. Shift Technology has raised $319.74 million across 6 funding rounds from investors including Guidewire, Bessemer Venture Partners and Accel. Shift Technology offers products and services including Claims Fraud Detection, Underwriting Risk Detection, Payment Integrity, and Claims Document Decisions. Shift Technology operates in a competitive market with competitors including Sedgwick, Riskified, Alloy, Signifyd and Yoti, among others.
- Headquarter Paris, France
- Stage Unicorn
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Sectors
TechnologyFinancial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Shift Technologies, Inc.
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Annual Revenue
$670.75 M5as on Dec 31, 2022
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Net Profit
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EBITDA
$10.46 M87as on Dec 31, 2022
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Total Equity Funding
$319.74 M (USD)
in 6 rounds
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Latest Funding Round
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Investors
Guidewire
& 7 more
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Employee Count
Employee Count
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Products & Services of Shift Technology
Shift Technology offers a comprehensive portfolio of products and services, including Claims Fraud Detection, Underwriting Risk Detection, Payment Integrity, and Claims Document Decisions. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
AI system to identify and investigate potential insurance claims fraud.
AI for detecting fraudulent applications in insurance underwriting.
Ensures accurate payment of healthcare claims to prevent errors.
Extracts and verifies claims data for faster settlement processes.
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Software Development Team
18 people
Leadership Team
16 people
Sales and Marketing
16 people
Customer Team
9 people
Senior Team
6 people
Legal and Compliance
5 people
Human Resources and Administration
5 people
Operations Team
5 people
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Funding Insights of Shift Technology
Shift Technology has successfully raised a total of $319.74M across 6 strategic funding rounds. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 6
- Last Round Last Round
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First Round
First Round
(03 Dec 2014)
- Investors Count 8
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov, 2021 | Amount | Series D - Shift Technology | Valuation | Guidewire |
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| May, 2021 | Amount | Series D - Shift Technology | Valuation | Advent International | |
| Mar, 2019 | Amount | Series C - Shift Technology | Valuation | Bessemer Venture Partners |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Shift Technology
Shift Technology has secured backing from 8 investors, including institutional and venture fund investors. Prominent investors backing the company include Guidewire, Bessemer Venture Partners and Accel. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Private equity firm focused on multiple sectors
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Founded Year | Domain | Location | |
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Accel is recognized as a leading venture capital firm.
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Founded Year | Domain | Location | |
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Venture capital investments and support for entrepreneurs in technology and innovation sectors.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Shift Technology
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Shift Technology
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Shift Technology Comparisons
Competitors of Shift Technology
Shift Technology operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Sedgwick, Riskified, Alloy, Signifyd and Yoti, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Claims administration, loss adjusting, and benefits management services are provided.
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| domain | founded_year | HQ Location |
AI-based fraud prevention for e-commerce payments is provided.
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| domain | founded_year | HQ Location |
Identity decisioning platform is provided for banks and fintech firms.
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| domain | founded_year | HQ Location |
Provider of fraud prevention and payment validation for online retailers
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| domain | founded_year | HQ Location |
Identity verification solutions are provided for multiple industries digitally.
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| domain | founded_year | HQ Location |
Cloud-based big data and fraud prevention solutions are offered.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Shift Technology
Frequently Asked Questions about Shift Technology
When was Shift Technology founded?
Shift Technology was founded in 2014.
Where is Shift Technology located?
Shift Technology is headquartered in Paris, France.
Is Shift Technology a funded company?
Shift Technology is a funded company, having raised a total of $319.74M across 6 funding rounds to date. The company's 1st funding round was a Series C of $60M, raised on Dec 03, 2014.
What is the annual revenue of Shift Technology?
Annual revenue of Shift Technology is $670.75M as on Dec 31, 2022.
What does Shift Technology do?
Shift Technology was founded in 2014 in Paris, France, as a provider of AI solutions within the insurance sector. Tools are offered for fraud detection, payment integrity, subrogation, claims intake, compliance risk assessment, and document analysis. The platform is designed to enhance accuracy and efficiency in underwriting, claims processing, and risk management for insurers operating globally.
Who are the top competitors of Shift Technology?
What products or services does Shift Technology offer?
Shift Technology offers Claims Fraud Detection, Underwriting Risk Detection, Payment Integrity, and Claims Document Decisions.
Who are Shift Technology's investors?
Shift Technology has 8 investors. Key investors include Guidewire, Bessemer Venture Partners, Accel, Bpifrance, and Advent International.
What is Shift Technology's valuation?
The valuation of Shift Technology is $1B as of May 2021.
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