SC Launch invests $300K in Columbia startup

SC Launch Inc., the investment affiliate of the South Carolina Research Authority, is investing $300,000 in Rainwalk Technology.

The Columbia-based startup offers pet health insurance through an online platform that it says enables quick, easy claims processing.

“The team at Rainwalk Technology made what can be a tedious process turnkey,” SCRA interim President and CEO Bill Kirkland said in a news release. “We are excited to be part of their continued growth.”

Rainwalk Technology, doing business as Rainwalk Pet Insurance, became an SCRA member company in December 2021 and received a $50,000 acceleration grant in March 2022. They became an SC Launch Inc. portfolio company with this investment.

SCRA Senior Investment Manager Mitch Smith said in the release: “Rainwalk makes pet insurance more accessible and provides more value to pet owners, especially during emergencies. Underwritten by Incline Casualty Co. Inc. and Physicians Mutual Insurance Co., the policies are comprehensive and cover common pet illnesses and accidents. Their company is on track for strong growth to help even more pet owners.”

Rainwalk is now the official pet insurance provider for the United Kennel Club, the release said. This collaboration provides UKC breeders and owners with access to comprehensive accident and illness insurance, offering greater peace of mind and supporting responsible dog ownership.

“SCRA and SC Launch Inc. bought into our mission and have been great partners for us,” said Rainwalk Technology CEO Joshua Snead. “Our mission is to have a profoundly positive impact on the health and happiness of animals, and our team exemplifies it every day in the service we’re providing.”

Established in 2006, SC Launch Inc. is the investment affiliate of the South Carolina Research Authority. The independent, nonprofit corporation provides convertible loans and investment funding to qualifying SCRA member companies.