San Francisco-based AI insurance platform Corgi has raised $40.7m through a securities offering, according to a regulatory filing with the US Securities and Exchange Commission (SEC), building on a previous $2.6bn valuation.
The company raised the full $40,678,902 from 11 investors through a combination of equity and rights to acquire additional securities.
The first sale under the offering was recorded on 9 July, with outside investors required to make a minimum investment of $10,000.
The offering was filed under Rule 506(b) of Regulation D. The filing states that none of the proceeds will be used to make payments to the company’s executive officers, directors or promoters, while no sales commissions or finder’s fees were reported in connection with the raise.
The latest capital injection adds to Corgi’s previous fundraising, which includes a $160m Series B and a subsequent $106m raise that valued the company at $2.6bn.
Corgi operates an AI-native insurance platform serving startups and other commercial businesses, with its technology supporting areas including underwriting and policy management. The company was incorporated in Delaware in 2024 and is led by co-founders Nico Laqua and Emily Yuan.
Alexander Wortmann and Oliver Jung are also listed as directors in the latest filing, while Yuan, who serves as chief operating officer, signed the filing on 21 August.
The latest funding comes as insurers increasingly explore AI across the insurance lifecycle, with technology being used to support underwriting, risk assessment and policy management. Corgi has positioned its platform around using AI to streamline these processes for commercial insurance customers, as InsurTechs continue to attract capital for technology-led approaches to insurance.
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