The Seaplane Venture Fund has invested in pet insurer Rainwalk Technology. Rainwalk has a great product, strong traction, and a fast-growing market as a tailwind.
The US market for pet insurance is now big business at $3.5B in annual premiums. It’s also growing very quickly (24%) as pet owners increasingly view their furry friends as members of the family. We also very much like Rainwalk CEO and Cofounder Joshua Snead, who has relevant experience via his background at insurance software company Guidewire.
The Seed round we’ve invested in was led by an ideal partner, Iowa-based venture firm ManchesterStory. ManchesterStory is an insurance specialist whose LP base is composed of two dozen insurance carriers, brokers, and wholesalers. They’re a great strategic fit and we’re happy to have them involved. We're also happy to be joined in the round by InsureTech Gateway, Bridge Investments, and several angels who are insurance executives.
Congrats to Josh and the team. We look forward to supporting them for many years to come.
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