Insurance tech Corgi on Thursday announced a $106 million Series B1 raise, valuing the company at $2.6 billion, just three weeks after announcing a $160 million Series B at a $1.3 billion valuation and four months after its $108 million Series A. The company offers insurance, working specifically with startups in areas like tech, cyber, and general liability; it counts Deel and Artisan among its customers.
Even in the current go-go dealmaking environment, that sequencing is remarkable. While startups raising back-to-back rounds at steep step-ups have become almost routine, a company whose valuation doubles in three weeks is unusual enough to raise questions, particularly given the investor set in both rounds is the same.
