Insurance technology firm Corgi has secured $106 million in a Series B1 funding round, pushing its total valuation to $2.6 billion. This significant milestone comes only three weeks after the company announced a $160 million Series B round that valued the business at $1.3 billion, and follows a $108 million Series A round completed just four months ago. The rapid succession of funding rounds has drawn attention within the venture capital community, as the company’s valuation effectively doubled in less than a month.

Founded in 2024 by Emily Yuan and Nico Laqua, Corgi specializes in providing insurance coverage tailored to the unique needs of startups, particularly those operating in the technology, cyber, and general liability sectors. The company has positioned itself to address risks that legacy carriers often overlook, such as operational failures, misinformation, and compliance issues stemming from artificial intelligence systems. Current clients include notable startups such as Deel and Artisan.

While the company attributes the rapid valuation jump to strong revenue growth and the capital-intensive nature of building an AI-native insurance platform, the practice of back-to-back internal markups has sparked debate among limited partners. Critics argue that such rapid re-pricing without a liquidity event can create inflated performance metrics on paper. However, investors backing Corgi—including Kindred Ventures, Prime Capital, Leblon Capital, Alumni Ventures, and Y Combinator—maintain that the capital is necessary to scale underwriting technology and expand into new insurance categories.

With this latest infusion of capital, Corgi has raised a total of $378 million. The company plans to utilize the funds to grow its team, enhance its AI underwriting capabilities, and expand its embedded distribution partnerships to better serve the evolving risk landscape of the startup ecosystem.