AI Insurance Upstart Corgi Quadruples Its Valuation in Six Months With Fourth Funding Round of 2026
AI Insurance Upstart Corgi Quadruples Its Valuation in Six Months With Fourth Funding Round of 2026 #
San Francisco-based insurtech Corgi has secured a fresh round of capital at a $4 billion valuation, its fourth fundraise in roughly six months, according to Forbes and TechCrunch. The raise is structured as a second extension of the company’s Series B and has already closed. The amount raised and the identities of new investors were not disclosed. Corgi declined to comment on the transaction.
The company began 2026 with a $108 million Series A, followed by a $160 million Series B in early May that valued it at $1.3 billion. Three weeks later it announced a $106 million Series B1 extension led by TCV, pushing its valuation to $2.6 billion. The Series B2 extension, reported in late July, brought that figure to $4 billion, a more than tenfold increase in valuation since the start of the year.
Founded in 2024 by Nico Laqua and Emily Yuan, Corgi operates as a full-stack insurance carrier, meaning it underwrites and issues policies directly rather than acting as a broker. It focuses primarily on startup clients, offering coverage in areas such as tech, cyber, and general liability. Customers include payroll platform Deel and sales-automation firm Artisan. The company says cutting out intermediaries allows it to tailor coverage to how businesses actually operate and price risk more efficiently. Corgi also uses AI for claims processing, replacing the overseas human evaluator teams common in traditional insurance.
The fundraising pace tracks a sharp revenue increase. When Corgi announced its Series A, it reported an annualized revenue run rate of $40 million. Sources familiar with the company told Forbes it is now on track to reach a $450 million revenue run rate by year-end, a more than tenfold jump in under a year. The company has grown to approximately 250 employees and received its insurance carrier regulatory approval in July 2025 through a Risk Retention Group structure.
Bacers include growth investor TCV and early-stage firm Kindred Ventures, whose partner Kanyi Maqubela has previously cited the company’s momentum as justification for successive valuation steps. Corgi is also a Y Combinator alumnus. The company operates a 24-hour public café at its downtown San Francisco headquarters, and its employees work a seven-day office schedule, both of which have drawn media coverage alongside the company’s funding announcements.
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