Corgi, an AI-driven insurance startup, has raised $108 million to address inefficiencies in the insurance industry by providing agile and tailored coverage solutions for startups.

Target Overview

Corgi, a startup specializing in AI-driven insurance solutions, has successfully raised $108 million in a funding round co-led by Y Combinator, Kindred Ventures, Oliver Jung, Leblon Capital, Contrary, and Glade Brook Capital Partners. This funding round includes both Series A and seed financing, valuing the company at $630 million. Established in 2024 and headquartered in San Francisco, Corgi was founded by Nico Laqua and Emily Yuan, who aim to address fundamental inefficiencies in the insurance industry through artificial intelligence. Laqua previously founded Basket, a game publisher with over 200 million active users.

What sets Corgi apart is its classification as a licensed full-stack insurance company rather than merely an insurance broker. In the U.S., obtaining insurance company status involves navigating stringent regulatory approvals from state governments, including maintaining substantial minimum capital, securing adequate reserves for claims, undergoing regular financial audits, and validating actuarial systems, processes that typically take two to three years. Remarkably, Corgi received its official insurance license just one year after its formation, in July 2025.

Industry Overview in the U.S.

The insurance industry in the United States is traditionally aligned with sectors such as manufacturing and real estate, often characterized by annual contract cycles, reliance on paper processes, and complex procedures that fail to accommodate the rapidly evolving needs of startups and t