Overview
- Corgi closed a $106 million Series B1 led by TCV that raised its valuation to $2.6 billion, the company disclosed on May 28.
- The B1 came three weeks after a $160 million Series B that valued Corgi at $1.3 billion and brings the startup’s total disclosed funding to $378 million.
- Corgi markets itself as an AI-native insurtech that automates quoting, pricing, underwriting, and claims handling for startups and modern businesses, and counts customers such as Deel.
- Company leadership says Corgi was profitable last month and that the new capital will fund expansion into new insurance verticals, scaling its AI underwriting platform, growing embedded distribution partnerships, and hiring staff.
- Some limited partners and investors caution that fast internal re-pricings without a liquidity event can inflate paper returns, which could prompt tougher due diligence and changes to how VCs mark portfolio companies.