Startups & Funding
Corgi raises $160 million Series B at $1.3 billion valuation
Insurance startup Corgi raised $160 million in a Series B round led by TCV, valuing the company at $1.3 billion just four months after its Series A.
Business insurance startup Corgi announced on Wednesday that it has raised a $160 million Series B funding round, according to co-founder Nico Laqua. The financing round, which was led by venture capital firm TCV, values the company at $1.3 billion. In the venture capital ecosystem, a Series B round represents a startup’s second major round of venture capital financing. This stage of investment is typically designed to help a company scale its operations, grow its team, and expand its market reach after demonstrating initial traction.
This latest funding announcement comes just four months after Corgi raised $108 million in its Series A round, which is a startup’s first major round of venture capital financing. Series A rounds are generally used to establish a basic product and begin scaling. With the completion of this new round, the company has now raised a total of $268 million in funding to date, Laqua said. The new $1.3 billion valuation establishes Corgi as the latest “unicorn”—a term used to describe a privately held startup company valued at over $1 billion—to emerge from Y Combinator, a startup accelerator that provides resources and support to early-stage businesses.
Laqua started the company alongside co-founder Emily Yuan in 2024, and the startup subsequently participated in Y Combinator’s Spring 2024 batch. In addition to lead investor TCV, other venture capital firms and investment funds participating in this Series B funding round include Kindred Ventures, Leblon Capital, and First Order Fund. Corgi, which counts companies such as Deel and Artisan among its customers, provides business insurance coverage. The startup offers policies across several specific categories, including:
- General liability
- Cyber liability
- Tech and AI liability
Laqua expressed excitement regarding the capital raise and shared appreciation for the investment partners supporting the company’s trajectory, while emphasizing that the startup’s long-term objectives remain ahead. “Our mission is bigger: we want to use the fresh capital to expand into more lines of insurance and build a generational company,” Laqua, a co-founder of the startup, told TechCrunch.
Why it matters
Corgi’s ascent to a $1.3 billion valuation within months of its founding highlights investor interest in tech and AI liability insurance, as well as the role of accelerators like Y Combinator in producing startups valued at over $1 billion.