Corgi Insurance raises $106M Series B

The company labeled the round Series B1, and TCV led it with Prime Capital, Zone 2 Ventures, Leblon Capital, Kindred Ventures and others. Disclosed funding now totals $378M, and Corgi says annualized recurring revenue has passed $40M. CEO Nico Laqua said the company was profitable the previous month, and the money is meant to speed entry into trucking, small business and sports.

Corgi won regulatory approval in July 2025 and calls itself the first AI-native, full-stack carrier built for startups. It is also in litigation with rival Vouch and, through its Beagle subsidiary, with AppFolio. Third-party trackers report that a further extension followed in July 2026 at a $4.0B valuation, with the amount and investors undisclosed.

For AI founders, the round shows investors paying up for companies that own a regulated layer, here underwriting and claims, instead of selling software to carriers. At $2.6B against $40M of revenue, the multiple is roughly 65 times annualized revenue, so the price reflects expected category dominance more than current scale. Legal fights with competitors and partners are a cost of that approach.