Insurance tech firm Corgi raises $106 million at a $2.6 billion valuation, marking a threefold increase in just three weeks.
Insurance technology startup Corgi secured $106 million in a Series B1 funding round, elevating its valuation to $2.6 billion. The raise follows a $160 million Series B round at a $1.3 billion valuation just three weeks prior and a $108 million Series A four months ago.
The rapid valuation jump, driven by the same investor group, stands out even in a high-velocity funding environment. Investor Kanyi Macqubela of Kindred Ventures attributed the surge to the company’s momentum, though the practice has drawn scrutiny from limited partners concerned about internal markups.
Critics argue such repricing without liquidity events can inflate portfolio performance on paper, raising questions about underlying business fundamentals.