Key US InsurTech investment stats in H1 2026:
- US InsurTech funding jumped 2.3x YoY in H1
- Californian companies secured six of the top 10 deals in the first half of the year as the state emerged as the main US InsurTech hub
- 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 first half
US InsurTech funding jumped 2.3x YoY in H1
US InsurTech investment in H1 2026 reached $1.6bn across 126 deals, an 87% increase in funding compared to the $870.9m raised across 54 deals in H1 2025.
Deal volume more than doubled over the same period, rising by 2.3x year-on-year.
Unlike many periods where funding growth is driven by a handful of outsized transactions, the expansion here was broad-based, with activity increasing substantially across the sector.
The average deal value in H1 2026 stood at $12.9m, down from $16.1m in H1 2025, reflecting the wider pool of companies attracting investment rather than any softening of investor appetite.
Taken together, the data points to a sector in strong and broad-based growth, with both funding and deal volume moving decisively upwards.
Californian companies secured six of the top 10 deals in the first half of the year as the state emerged as the main US InsurTech hub
The state-level breakdown of the top 10 deals in H1 2026 shows a notable reversal in the relative standing of California and New York.
California rose from two top deals in H1 2025 to six in H1 2026, establishing itself as the dominant state for large-scale US InsurTech investment by a considerable margin.
New York moved in the opposite direction, falling from five top deals to two, though it retained a meaningful presence in the rankings.
New Jersey featured in both periods with one top deal on each occasion, providing a degree of consistency across the two comparable periods.
Texas made a new appearance in H1 2026 with one deal.
Illinois, which had contributed two top deals in H1 2025, did not feature in H1 2026, marking the only departure from the prior period’s state mix among those that had held more than a single deal.
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 first half
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.
It was the highest of the three Corgi deals to feature in the top 10 in the period, with the three rounds collectively totalling $374m.
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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