SAN FRANCISCO — Insurance platform Corgi has successfully secured $160 million in a Series B funding round led by TCV, pushing the San Francisco-based company valuation to $1.3 billion just four months after its initial Series A funding round, making it the latest unicorn to emerge from Y Combinator, according to an official company announcement on Tuesday.
The new capital brings total funding for Corgi to more than $268 million, according to the company. Additional financial participation in the latest Series B round came from OurCrowd, Alumni Ventures, Leblon Capital, Kindred Ventures, and Repeat VC, showcasing robust institutional interest in the broader insurtech sector during 2024 and expanding the company's financial runway.
Co-founded in 2024 by Emily Yuan and Nico Laqua, the full-stack carrier directly manages underwriting, policy management, and claims without relying on third-party insurers. Insurance is one of the largest industries in the world, but it is still built on infrastructure from centuries ago, Yuan said in a statement detailing the firm's rapid expansion into property management, trucking insurance, payroll, and small business automation across the real economy.
Corgi competes with established digital insurance firms like Next Insurance and Lemonade while carving out a distinct market position through its comprehensive management of insurance solutions tailored specifically for fast-growing startups across the country. The company began operations in 2024 by targeting property management before deploying advanced quoting mechanisms and risk models based on operational data into the trucking sector and other complex commercial workflows.
The newly acquired funds will be utilized to broaden insurance coverage, enhance distribution channels, and invest further in the proprietary technology that powers underwriting and claims processes through 2024 and beyond. Where other companies might take the boring but safe path, Corgi will always dream bigger, accomplish more, and take more swings for the fences, Laqua said, emphasizing the company's long-term vision within Y Combinator's portfolio.
