Rainbow, the digitally-enabled managing general underwriter (MGU) building tailored small business insurance products, has announced raising $8 million in Series A funding, led by Zigg Capital. The financing, which closed in Q4 2024, will accelerate the company's plans to expand its specialized underwriting approach to additional business verticals, with Rainbow's second program recently launching in select states, followed by a nationwide roll out.

This financing brings Rainbow's total capital raised to $20 million since the company formed in 2022.