Corgi Insurance Inc., an artificial intelligence-native insurance carrier built for startups, revealed today that it has raised $160 million in new funding at a $1.3 billion valuation to expand its startup insurance products, develop its technology further and move into new verticals.

Founded in 2024 and a graduate of Y Combinator’s Summer 2024 batch, Corgi describes itself as the first AI-native, full-stack insurance platform purpose-built for startups.

The company won regulatory approval as a licensed carrier in July 2025. Its AI systems run underwriting, policy management and claims in-house, instead of stitching together work across the third-party administrators, managing general agents, reinsurers and carriers that handle most of these functions at established insurers.

Traditional insurance infrastructure is slow, fragmented and poorly suited to companies that operate on faster cycles. Corgi argues that owning the full stack and applying AI to core workflows produces quicker quoting, more adaptive risk models and coverage that can be adjusted in something closer to real time.

Standard startup coverages on offer include directors and officers liability, errors and omissions liability, cyber, commercial general liability, hired and non-owned auto and fiduciary liability. Corgi has also recently added an AI liability product that pairs with a customer’s existing technology errors and omissions policy.

The AI coverage is pitched as protection against losses tied to biased algorithms, harmful or inaccurate generated content, misuse of training data, adversarial attacks on models, synthetic media and autonomous system failures. Coverage is offered on a modular basis, so customers can add or upgrade policies from a dashboard when they raise a round, hire their first non-founder employee, or sign a larger enterprise contract.

Under the hood, Corgi says, its platform analyzes thousands of data points about a company, its industry and its risk profile to generate quotes in under 10 minutes. Policies are typically bound the same day rather than the two to four weeks more common at legacy carriers.

The idea is that by cutting out the broker layer and operating as the carrier itself, Corgi underwrites policies, issues coverage, manages claims and runs its own policy administration system in-house. AI handles much of the workflow that traditionally moves among brokers, third-party administrators and underwriters.

The company started in property management insurance and plans to use the new funding to broaden its product range, deepen distribution and continue investing in the AI systems that sit underneath underwriting and claims. It is also moving into new industries, with trucking the first target outside its initial market. Payroll and small business coverage are flagged as future areas of expansion.

“Insurance is one of the largest industries in the world, but it’s still built on infrastructure from centuries ago,” co-founder and Chief Operating Officer Emily Yuan said in a statement. “We started with property management and are expanding into trucking insurance, payroll and small business, automating some of the hardest workflows in the real economy.”

The Series B round was led by TCV. Also participating were Oliver Jung, Leblon Capital GmbH, Kindred Ventures, Repeat VC, Zone 2 Ventures, Audeo Ventures, Quadri Ventures Ltd., First Order Fund, Vocal Ventures, Maiora Ventures, Nordstar Capital LP, Seven Stars Ventures, Hexa Capital, Alpha Square Group, GSBackers, OurCrowd Management Ltd., Alumni Ventures and Global Growth Fund.

The new funding takes the total raised by Corgi to more than $268 million.

Image: Corgi