Insurance startup Corgi raises additional funding at $4B valuation
Corgi, an insurance tech startup backed by TCV and Kindred Ventures, is reportedly raising another round of funding that would push its valuation to $4 billion. This marks the company's third fundraising in just eight weeks following a B1 round announced in late May at a $2.6 billion valuation. The new raise appears to be an extension of Corgi’s Series B and has already closed, though no specific amount was disclosed. Corgi is gaining momentum amid the AI-funding boom, having raised significant capital over recent months with rapidly increasing valuations. It initially secured a $108 million Series A in January at an estimated post-money valuation of around $630 million and later raised $160 million for its Series B at $1.3 billion before doubling that to $2.6 billion within weeks. The startup is expanding both its insurance offerings—covering liability, tech-related incidents, employment, renters', and auto coverage—and into other ventures like data room software and 24-hour coffee shops in major cities.
Topics: AI insurance Series B funding startups