Corgi raises $106 million

After announcing $160 million in funding earlier this month, business insurance startup Corgi says it raised $106 million in a Series B1 round. The new funding was led by TCV with participation from Prime Capital, Zone 2 Ventures, Oliver Jung, Leblon Capital, Kindred Ventures, Quadri Ventures, First Order Fund, Vocal Ventures, Nordstar, GSBackers, Repeat Ventures, 8188 Capital, and other strategic investors.

This new injection of capital, which brings total funding to $378 million, values the company at $2.6 billion.

The financing will support continued expansion of Corgi’s full-stack insurance platform and launch into new lines of commercial insurance.

Founder and CEO of Corgi Nico Laqua says the company was profitable last month.