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§ Private Profile · New York City, NY, USA
Open-source, design centric software for interacting with blockchains
Rainbow has raised $38.0M across 3 funding rounds.
Key people at Rainbow.
Rainbow was founded in 2019 by Christian Baroni (Founder) and Jin Chung (Founder) and Michael Demarais (Founder).
Rainbow has raised $38.0M in total across 3 funding rounds.
Rainbow develops tech-driven insurance solutions primarily for small businesses in the restaurant and beauty & wellness sectors. Leveraging smart technology and advanced data analytics, the company offers tailored, often usage-based, policies that proactively support risk management. This approach focuses on preventing claims and delivering more affordable coverage based on individual business needs.
Established in 2021, Rainbow was founded by Bobby Touran, Jamie Hankinson, and Shalom Yiblet. Touran, with significant experience in the insurance industry, recognized that small hospitality businesses were poorly served by conventional carriers, often receiving inadequate or inflexible coverage. This observation led the trio to create a platform directly addressing these market gaps.
Rainbow’s clientele comprises independent restaurants, salons, and similar small enterprises seeking comprehensive protection. The company envisions redefining insurance, shifting it from a reactive safety net to a proactive tool for business stability and growth. By integrating risk prevention into its model, Rainbow aims to empower entrepreneurs with adaptable and equitable coverage.
Rainbow has raised $38.0M across 3 funding rounds. Most recently, it raised $8.0M Series A in January 2025.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jan 1, 2025 | $8M Series A | Zigg Capital | Craft Ventures, Threshold Ventures | Announced |
| Jan 1, 2024 | $12M Seed | — | Altai Ventures, Arbor Ventures, Caffeinated Capital, Fabric Ventures, Moonfire Ventures, Paradigm, Renegade Partners, Robot Ventures, Rand Hindi | Announced |
| Feb 15, 2022 | $18M Series A | Alexis Ohanian | — | Announced |
Key people at Rainbow.
Rainbow was founded in 2019 by Christian Baroni (Founder) and Jin Chung (Founder) and Michael Demarais (Founder).
Rainbow has raised $38.0M in total across 3 funding rounds.
Rainbow's investors include Zigg Capital, Craft Ventures, Threshold Ventures, Altai Ventures, Arbor Ventures, Caffeinated Capital, Fabric Ventures, Moonfire Ventures, Paradigm, Renegade Partners, Robot Ventures, Rand Hindi.
Rainbow is an open-source, design-centric software platform primarily focused on providing a mobile-first, non-custodial Ethereum wallet that enables users and developers to interact with blockchains in an intuitive and visually appealing way[1][2][3]. It serves individual crypto users, DeFi participants, and Web3 enthusiasts by offering features such as NFT management, cross-chain swaps, hardware wallet support, and a points-based gamification program to enhance user engagement[1][2][3]. The platform aims to lower the barrier to entry for blockchain technology through its emphasis on design and user experience, making it accessible to both newcomers and experienced users[1].
For an investment firm, Rainbow’s mission would likely focus on democratizing blockchain access through user-friendly, secure, and open-source tools. Its investment philosophy would emphasize design-led innovation in Web3 infrastructure, targeting key sectors like decentralized finance (DeFi), NFTs, and cross-chain interoperability. Rainbow’s impact on the startup ecosystem includes fostering community collaboration via open-source development and incentivizing user participation through its unique points program, which could inspire other projects to blend usability with community engagement[1][2][3].
Rainbow was founded in 2019 and is based in Brooklyn, New York[2][3]. The founders, including Mike Demarais, brought backgrounds in software development and blockchain technology, aiming to create a wallet that combined security, ease of use, and aesthetic appeal[4]. The idea emerged from the need to make Ethereum and DeFi more accessible and enjoyable, especially for NFT collectors who value a visually rich interface[4]. Early traction came from rapid adoption among NFT communities and DeFi users who appreciated Rainbow’s design focus and feature set, such as WalletConnect integration and NFT organization tools[4].
Rainbow rides the wave of mass adoption of decentralized finance (DeFi), NFTs, and Web3 applications, where user experience and accessibility are critical barriers to entry[1][3]. The timing is favorable due to increasing mainstream interest in crypto assets and the growing complexity of blockchain ecosystems, which demand simpler, more secure, and visually appealing tools[1][4]. Market forces such as Layer-2 scaling solutions and cross-chain interoperability are working in Rainbow’s favor by expanding the utility and reach of its wallet[3]. Rainbow influences the broader ecosystem by setting a high standard for design and user engagement in crypto wallets, encouraging other projects to integrate community incentives and open-source transparency[1][3].
Rainbow is positioned to continue growing as a leading Ethereum wallet with a strong emphasis on design and community engagement. Upcoming developments include the launch of the RNBW token and enhanced ENS (Ethereum Name Service) profile features, which will deepen user interaction and ecosystem integration[3][4]. Trends shaping its journey include the rise of Layer-2 solutions, NFT market expansion, and increasing demand for seamless fiat on-ramps and cross-chain functionality[4]. Rainbow’s influence may evolve from a wallet provider to a broader DeFi and Web3 hub, potentially becoming a default Ethereum wallet alternative to MetaMask and Coinbase Wallet[4]. Its open-source model and gamification approach could inspire new standards for user-centric blockchain applications, reinforcing its role in the future crypto landscape.