TCV Leads $160M Series B for Corgi Insurance Startup

Corgi, a US-based business insurance startup, announced on May 6 that it raised $160 million in Series B funding led by TCV at a $1.3 billion valuation, according to TechCrunch. The round also included Kindred Ventures, Leblon Capital, and First Order Fund. This brings Corgi's total funding to $268 million, four months after the company announced a $108 million Series A.

Company Background and Y Combinator Status

Corgi was founded in 2024 by Nico Laqua and Emily Yuan. The company joined Y Combinator's Spring 2024 batch and has now achieved unicorn status as one of YC's newest companies.

Insurance Products and Services

Corgi offers general liability, cyber liability, and tech and AI liability coverage. As a licensed insurance carrier, the company creates, underwrites, and manages its own policies and claims from start to finish. This model enables Corgi to produce quotes in under 10 minutes and bind policies the same day, compared to traditional insurance providers that often require two to four weeks.

The company's AI liability coverage addresses risks tied to AI products, including model hallucinations and algorithmic bias.

Market Expansion and Strategic Focus

Corgi initially focused on serving startups, which often require specialized coverage such as Directors & Officers (D&O) insurance to close funding rounds. The company is now expanding into other sectors, beginning with trucking. Fast-turnaround policies designed for emerging risks, including AI-related liabilities, position Corgi to address delays that startups and enterprises face in sales and fundraising processes.