At a glance:
- Embedded pet health insurance provider Rainwalk has raised $4 million
- Investment led by ManchesterStory with participation from Insurtech Gateway, Bridge Investments, Seaplane Ventures, and several insurance and reinsurance executives
- Funding will fuel continued expansion into alternative distribution channels to help get more pets insured – and unlock the huge market potential for pet insurance in the U.S.
April 23, 2024 – Rainwalk Technology, the leading white-label pet insurance technology provider, today announces $4 million in Seed funding led by ManchestorStory with participation from Insurtech Gateway, Bridge Investments, Seaplane Ventures, and several insurance and reinsurance executives. The capital will fuel investments in people, product, and technology that will power partnerships and initiatives that further differentiate Rainwalk’s pet health ecosystem in the marketplace.
“Since I first met Josh during the Global Insurance Accelerator (GIA) in 2021, I knew Rainwalk had the potential to change the adoption of pet insurance in the U.S.,” says Nicole Gunderson, Principal at ManchesterStory, and former Managing Director at the GIA. “Josh and the strong industry team he’s built since are doing just that. At ManchesterStory, we invest in game changers, and we knew we had to partner with them to fuel growth.”
While many pet insurers in the US have seen great success with Direct-to-consumer channels, Rainwalk is looking to dramatically improve market penetration by investing in new, alternative, and tech-forward distribution channels historically overlooked by incumbents.
“By prioritizing thoughtful product design, seamless pet insurance integrations and exceptional operations support, our team has demonstrated continued channel growth opportunities that are scalable and cost-effective,” says Joshua Snead, Founder and CEO of Rainwalk Technology. “We’re relentlessly committed to being an industry-leading pet health insurtech, and we’re thrilled to grow our capabilities alongside new investors who share our vision.”
Based in Columbia, SC, Rainwalk is a high-growth team of animal lovers who believe no pet parent should have to choose between their budget or providing the best possible care for their pets. Rainwalk offers generous pet insurance coverage for accidents and illnesses with limited exclusions compared to competitors. Rainwalk policies are convenient to purchase and provide valuable benefits like free virtual vet visits and exclusive pet brand discounts, caring pet parent support and hassle-free reimbursements. Pet parents increasingly engage with Rainwalk’s mobile app for vet bill reimbursements, free virtual vet appointments, policy management and to access exclusive discounts – with more pet health capabilities coming this year.
To learn more about Rainwalk or inquire about embedding pet insurance into your business, please visit rainwalkpetinsurance.com/partner or email partner@rainwalk.io.
