Insurtech startup Corgi has doubled its valuation to $2.6 billion just three weeks after reaching unicorn status, underscoring investor demand for AI-driven commercial insurance infrastructure.
The San Francisco-based company said it raised $106 million in a Series B1 round led by TCV, with participation from Prime Capital, Zone 2 Ventures, Oliver Jung, Leblon Capital, Kindred Ventures, Quadri Ventures, First Order Fund, Vocal Ventures, Nordstar, GSBackers, Repeat Ventures, 8188 Capital, and other strategic investors.
The financing will support continued expansion of Corgi’s full-stack insurance platform and launch into new lines of commercial insurance.
The latest financing follows Corgi’s previously announced $160 million raise on May 6, when the company disclosed funding at a $1.3 billion valuation.
Combined with the company’s previously announced $108 million Series A, this brings Corgi’s total funding amount to $378 million to accelerate the modernization of commercial insurance infrastructure.
“Commercial insurance infrastructure has historically been slow, manual, and difficult for operators to navigate,” said Nico Laqua, founder and CEO of Corgi.
Laqua said the company was profitable last month, and that this new round would allow Corgi to expand more quickly into new verticals such as trucking, small business, sports, and more.
The latest raise comes as investors continue to back startups using artificial intelligence to modernize insurance workflows, a sector that remains heavily dependent on manual underwriting, fragmented systems, and legacy infrastructure.
Corgi said its revenue has grown at a pace rarely seen in fintech or insurance. At this time, Corgi is on track to become one of the fastest-growing companies by revenue.
From the start, Corgi has built for modern companies that have been underserved by legacy insurance: startups, founder-led businesses, and operators who expect speed and transparency from every vendor they work with.
Corgi is a full-stack insurance platform focused on rebuilding insurance and financial infrastructure.
The company provides full-stack underwriting, claims handling, and embedded insurance solutions designed to make commercial coverage faster, more flexible, and operationally efficient.