Dechert Advises French Unicorn Shift Technology in US$220 Million Series D Investment Round
Dechert advised Shift Technology, a SaaS provider of AI-driven decision automation and optimization solutions for the global insurance industry, in connection with 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 and associates Louis Taslé d’Héliand and Augustin Piqueras.
About Dechert
Dechert is a leading global law firm with 24 offices around the world. We advise on matters and transactions of the greatest complexity, bringing energy, creativity and efficient management of legal issues to deliver commercial and practical advice for clients.
