Dechert advised Shift Technology, while Gide Loyrette Nouel advised Accel, Bessemer Venture Partners, General Catalyst and Iris Capital on the deal. Jones Day advised Bpifrance.
Shift Technology, a SaaS provider of AI-driven decision automation and optimization solutions for the global insurance industry, closed a Series D investment round of US$220 million. The round was led by Advent International, through Advent Tech, with participation from Avenir and others. Previous Series C participants Accel, Bessemer Venture Partners, General Catalyst, and Iris Capital also joined the round.
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. The new French Insurtech unicorn 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 Dechert team advising Shift included national partner Xavier Leroux (Picture) and associates Louis Taslé d’Héliand and Augustin Piqueras.
Gide’s team included Pierre Karpik, partner, and Paul Jourdan-Nayrac, counsel.
The Jones Day team was led by Renaud Bonnet.
Involved fees earner: Xavier Leroux – Dechert; Augustin Piqueras – Dechert; Louis Taslé d’Héliand – Dechert; Paul Jourdan-Nayrac – Gide Loyrette Nouel; Pierre Karpik – Gide Loyrette Nouel; Renaud Bonnet – Jones Day;