Key US InsurTech investment stats in Q2 2026:
- US InsurTech funding hit five-quarter high as funding grew 2.4x QoQ in Q2
- Large deals surged by 7.9x QoQ which fuelled the growth in funding
- Corgi, an AI-native full-stack insurance platform purpose-built for startups, raised $160m in a Series B round at a valuation of $1.3bn, making it one of the biggest US InsurTech deals of the quarter
US InsurTech funding hit five-quarter high as funding grew 2.4x QoQ in Q2
US InsurTech raised $1.1bn across 32 deals in Q2 2026, its highest quarter for funding across the five-quarter period and joint highest for deal volume alongside Q3 2025.
Compared to Q1 2026, funding rose 2.4x whilst deal volume was 60% higher.
Against the same quarter a year earlier, funding was up 2.4x from the $474.9m raised across 23 deals in Q2 2025, with deal volume also 39% higher.
Both comparisons point firmly in the same direction, with Q2 2026 representing a meaningful step change in activity.
Average deal size was $20.6m in Q2 2025, edging down to $24.2m in Q1 2026 before jumping to $35.7m in Q2 2026, its highest level across the period and a sign that larger commitments are playing an increasingly prominent role.
Large deals surged by 7.9x QoQ which fuelled the growth in funding
The breakdown by deal size reveals where that step change has been driven from.
Funding from transactions under $100m reached $291.1m in Q2 2026, down 22% from the $374.9m recorded in Q2 2025 and down 23% from the $376.7m seen in Q1 2026.
Smaller deal activity has in fact softened.
It is larger transactions that have defined the quarter, with deals of $100m or more coming in at $851m in Q2 2026, 8.5x the $100m recorded in Q2 2025 and 7.9x the $108m seen in Q1 2026.
The contrast between the two categories is stark and underlines that the surge in Q2 2026 funding has been driven almost entirely by a concentration of high-value transactions rather than any broad based pickup in deal activity across the market.
Corgi, an AI-native full-stack insurance platform purpose-built for startups, raised $160m in a Series B round at a valuation of $1.3bn, making it one of the biggest US InsurTech deals of the quarter
The round was led by TCV, with participation from a broad group of new and existing investors including Oliver Jung, Leblon Capital, Kindred Ventures, Repeat VC, Zone 2 Ventures, Alumni Ventures and others, bringing total capital raised to over $268m.
Since receiving regulatory approval in July 2025, Corgi has built what it describes as the first AI-native, full-stack insurance carrier designed specifically for startups, managing underwriting, policy operations and claims end to end through modern infrastructure rather than the fragmented legacy systems that have historically defined the sector.
The company is now expanding beyond its initial startup insurance line into new verticals, beginning with trucking, where it aims to bring faster quoting, more adaptive risk models and coverage better aligned with real-world operations.
Proceeds will support broader coverage, deeper distribution and continued investment in the AI systems underpinning the platform.
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