AI Insurance: Corgi Secures $108m to Scale Carrier Platform

Corgi has announced that it has raised US$108m in funding.

This significant capital injection follows the firm recently receiving regulatory approval to launch the first AI-native, full-stack insurance carrier built for startups.

Y Combinator, Kindred Ventures, Contrary, Oliver Jung, Glade Brook Capital Partners, Seven Stars, Leblon Capital (Andrej Henkler, Fadwa Ouardani), Fellows Fund, Alumni Ventures, Quadri Ventures, Vocal Ventures, Phosphor Capital, SV Angel and others participated in the funding round.

The funding encompasses a recent Series A round and a previous seed round and will be used to scale Corgi's startup insurance line.

Specific focus will be placed on expanding coverage, distribution and the AI systems that power underwriting, claims and policy operations.

As a full-stack carrier, Corgi designs and manages insurance end-to-end.

This structure allows it to tailor products specifically for startups as they grow and evolve.

Funding for a modern insurance foundation

Unlike traditional insurance companies, Corgi operates on modern infrastructure built for speed.

Legacy insurers are often built around brokers, manual workflows and annual policy cycles.

These traditional structures often struggle to keep pace with fast-moving startups.

Corgi's systems are designed to provide competitive pricing, instant quoting and seamless coverage that adapts as businesses scale.

The company has seen rapid revenue growth across its existing product lines.

Annual recurring revenue (ARR) has surpassed US$40m since full regulatory approval was granted in July 2025.

This momentum reflects growing demand for insurance products that prioritise speed, flexibility and modern operations across multiple industries.

Strengthening the mission for venture-backed firms

Corgi's startup insurance line is designed for venture-backed companies and high-growth businesses that want coverage built for modern operating realities.

The product includes core coverages such as directors and officers (D&O) liability, errors and omissions (E&O) liability, cyber, commercial general liability (CGL), hired and non-owned auto (HNOA), fiduciary liability, AI liability and more.

"Startups move fast, and so should their insurance," says Nico Laqua, Co-Founder and CEO of Corgi.

"Founders shouldn't have to choose between speed, coverage quality and price.

"We built Corgi to deliver all three in one place so startups can get covered quickly and focus on building. This capital helps us expand coverage and keep improving the product."

Kindred Ventures raise awareness about the importance of funding innovation. 

Kanyi Maqubela, General Partner at Kindred Ventures, says: "True innovation in insurance requires a special combination of actuarial science, AI-driven systems and a fundamental rethinking of policy management.

"Corgi brings rare tenacity and technical focus to one of the hardest challenges in financial services by launching a new carrier to transform insurance, starting with technology companies."

The growing popularity of AI-native insurance

Nirvana Insurance secured US$100m in a pre-emptive Series D funding round to scale its own AI-powered operating system, demonstrating a broader market shift towards high-fidelity data.

By analysing billions of real-world miles to price commercial motor risk, the firm illustrates how AI-native architecture is replacing traditional broad averages with precision.

Federato secured US$100m in a similarly-sized Series D round led by Growth Equity at Goldman Sachs Alternatives to advance its agentic AI platform.

The investment reflects a growing validation of purpose-built AI platforms over legacy systems that have simply been retrofitted with new technology.

This trend underscores a fundamental pivot in the sector as investors increasingly back full-lifecycle solutions that move away from manual workflows.