US insurance technology company Corgi has secured $106m in a Series B1 round that values the business at $2.6bn, just weeks after its previous fundraising.
The round was led by TCV, with backing from Prime Capital, Zone 2 Ventures, Oliver Jung, Leblon Capital and Kindred Ventures. 8188 Capital, First Order Fund, GSBackers, Nordstar, Repeat Ventures, Quadri Ventures, Vocal Ventures and other investors also took part.
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Corgi said the fresh capital will be used to expand its full-stack insurance platform and support its move into additional segments of the commercial insurance market.
The latest raise follows the company’s Series B announcement on 6 May, when it disclosed $160m in funding at a $1.3bn valuation.
With its earlier $108m Series A round included, Corgi’s total funding now stands at $378m.
The company said the funding will help advance its efforts to update commercial insurance infrastructure, an area it says has long been burdened by slow and heavily manual processes.
Corgi founder and CEO Nico Laqua said: “Commercial insurance infrastructure has historically been slow, manual and difficult for operators to navigate.”
Laqua said the company was profitable last month and that the new financing would allow it to move faster into new verticals including trucking, small business and sports.
Corgi describes itself as a full-stack insurance platform focused on reshaping insurance and financial infrastructure.
Its operations span underwriting, claims handling and embedded insurance, with the company managing insurance products internally rather than relying on outside carriers or broker-led structures.
The company said this model enables it to adapt policies as its clients develop.
Following regulatory approval in January, Corgi is licensed as an insurance carrier and offers underwriting, claims handling and policy administration through AI-driven platforms.
From the outset, Corgi has targeted businesses it believes have been underserved by established insurance providers, including start-ups, founder-led companies and operators looking for greater speed and transparency from service providers.
According to the company, that customer base has shaped how it builds products, approaches distribution and develops the wider network around its business as it scales.
