Gide has advised previous series C participants (Accel, Bessemer Venture Partners, General Catalyst, and Iris Capital) in the series D investment round of USD 220 million of Shift Technology, a SaaS provider of artificial intelligence (AI)-driven decision automation and optimization solutions for the global insurance industry. This funding round was led by Advent International, through Advent Tech, with participation from Avenir Growth and Bpifrance, through Large Venture, as well as previous Series C participants .
This funding round brings the total investment in Shift to US$320 million and the company has a market valuation of more than US$1 billion.
With this new funding round, Shift Technology aims to create the world's largest data science center dedicated to the insurance sector in France in the next two years, with over 300 data scientists
The Gide team advising previous investors was made up of partner Pierre Karpik working with counsel Paul Jourdan-Nayrac.
Dechert advised Shift Technology.