Corgi, a San Francisco-based AI-native full-stack insurance platform for tech startups, has raised $160M in Series B funding led by TCV. The company offers instant quotes and modular coverage tailored to startup stages, covering risks like tech E&O and cyber incidents. The capital will fund expansion into new lines of insurance such as trucking and payroll.
Insurtech Funding Dips Amid AI Push
Corgi's raise stands out as global insurtech funding fell 50% in April 2026 to $119M across eight deals per Fintech Global. Competitors like Vouch have raised over $200M total while Embroker secured more than $150M. Corgi's full-stack carrier model bypasses broker delays, addressing the need for same-day bindings in a market shifting to AI-driven platforms.
Brokers Delay Startup Deals
Tech startups require rapid compliance for fundraising, hiring, and enterprise deals, but traditional brokers take weeks for quotes and certificates of insurance. This delay kills deals and exposes founders to uncovered AI-specific risks like hallucinations and bias. Corgi's owned underwriting enables coverage in minutes, serving customers including Deel and Bland.ai.
AI Underwriting Enables Instant Policies
Unlike brokers, Corgi rebuilt insurance from scratch as a licensed carrier using AI for automated underwriting, claims, and policy operations. Modular packages scale from pre-seed (CGL, D&O, Tech E&O, Cyber) to growth stages adding EPLI and fiduciary liability. The recent launch of AI Coverage targets emerging risks like data leaks and discriminatory outcomes that major carriers exclude.
Full-Stack Beats Broker Advisory
Vouch focuses on advisory services with some carrier capabilities, while Embroker relies on applications for quotes. Corgi's end-to-end control delivers cheaper, faster protection without intermediaries. As Nico Laqua, co-founder, noted:
“We’re excited about the raise and incredibly grateful to our investors for believing in what we’re building. But the job is not done. Our mission is bigger: we want to use the fresh capital to expand into more lines of insurance and build a generational company.”
TCV Signals Growth Conviction
TCV, a tier-1 growth investor with exits like Netflix and Nubank, led the round, valuing Corgi at $1.3B—doubling from $630M post-Series A just four months prior. Kindred Ventures and others joined, reflecting conviction in AI insurtech for SMBs. This syndicate underscores Corgi's traction since YC Spring 2024.
Insurtech Scales to $740B
The insurtech market stands at $50B in 2026, projected to reach $740B by 2035 at 35% CAGR per Yahoo Finance. Cyber premiums are set to rise 15% in 2026 due to AI threats per Munich Re. Corgi captures this shift to digital carriers amid rising tech risks.
YC Alums Drive AI Disruption
Co-founder Emily Yuan, ex-OpenAI product manager and Stanford dropout, and Nico Laqua lead the 59-person team heavy on ex-founders. Backed by Y Combinator Spring 2024, their domain expertise in AI and startups enables specialized coverages. This repeat founder caliber positions Corgi to rebuild a trillion-dollar industry.
Vertical Expansion Accelerates
Post-raise, Corgi launches AI Coverage and enters trucking, payroll, and small business verticals. Aggressive hiring targets full-stack engineers, sales, and ex-founders. With $268M total raised and offices expanding to Atlanta and London, Corgi eyes nationwide scale via its 24/7 SF cafe community hub.