Pet Tech Industry Transactions
Transactions seem to be getting more frequent in the pet tech space. Trends include: more m&a activity from private equity and lots of action in the animal health sector. Below are investments and transactions from the last two years, with a few older notable deals thrown in. Let us know if we missed anything by contacting us here.
- Mars Petcare and PetSmart are the spending the most money on acquisitions.
- Petco acquires small, likely inexpensive companies.
- Wagz’s acquisitions have given the company products in multiple categories – they now offer 2 smart collars, a smart feeder, a smart door and a pet camera. Perhaps a tech toy will be next.
- The pet health and pet food categories receive the most investment capital.
|DFE Capital Management||$9 million||investment||PetPlate||Food||February 2020||Pet Plate is monthly subscription for fresh pet food|
|Dundee Venture Capital, Mercury Fund||$2 million||investment||Televet||Health||January 2020||TeleVet makes a telehealth platform for vets|
|Pondera Holdings||$31 million||investment||AutoPets||Misc Gadgets||December 2019||AutoPets is the manufacturer of Litter-Robot|
|Lever VC||$1.2 million||investment||Bond Pet Foods||Food||December 2019||Boulder-based Bond Pet foods creates high-protein pet food made without killing animals. Lever VC is a venture capital fund that invests in companies focusing on alternative protein sources|
|Harlem Capital||$3 million||investment||Wagmo||Health||December 2019||Wagmo offers pet wellness plans|
|Founders Fund||$13.5 million||investment||Modern Animal||Health||October 2019||Modern Animal is trying to disrupt the veterinary care market with a monthly subscription model|
|Companion Fund||$65 million||investment||Scratchpay||Health||October 2019||Scratchpay is a provider of payment plans for veterinary care|
|Fuzzy Pet Health||undisclosed||acquisition||Fetch My Pet||Apps||June 2019||Fuzzy is a pet telehealth company that purchased a pet life management app|
|Global Founders Capital & Mars Petcare||$8.5 million||investment||Mixlab||Health||June 2019||Mixlab is a pet pharmacy|
|Lerer Hippeau Ventures||$3.5 million||investment||Small Door Vet||Health||April 2019||Small Door is trying to disrupt the veterinary care market with a monthly subscription model|
|White Star Capital||€15 million||investment||ButterNut Box||Food||April 2019||ButterNut Box is a monthly dog food subscription company based in London|
|BoxGroup and others||$6.7 million||investment||Good Dog||Services||April 2019||Good Dog is a vetted marketplace for breeders, shelters and dog rescues|
|Rover||$7 million||investment||DogHero||Services||March 2019||DogHero is the leading pet sitting & dog walking company in Latin America|
|Smart Tracking Technologies||undisclosed||acquisition||Link AKC||Trackers||March 2019||Second time Link AKC was sold in last 6 months|
|Lerer Hippeau Ventures||$7 million||investment||Fi||Trackers||March 2019||Fi makes a smart tracker|
|Andreessen Horowitz||$5 million||investment||One Health||Health||January 2019||One Health uses genetic testing to help fight canine cancer|
|Insight Venture Partners||$39 million||investment||The Farmer’s Dog||Food||January 2019||Series B round, total of $49 million in funding|
|PeakSpan Capital||$12 million||investment||PetDesk||Apps||January 2019||PetDesk will use the funds to expand their services into the pet grooming industry|
|Rover||not disclosed||acquisition||DogBuddy||Services||November 2018||Rover expands it’s European dog-stting presence with the purchase of London-based Dogbuddy|
|Various investors||$1.6 million||investment||BabelBark||Apps||November 2018||BabelBark has received a total of $4.5 million in financing to expand it’s pet health & services app|
|Wagz||not disclosed||acquisition||Link AKC||Trackers||September 2018||Link AKC makes smart collars|
|Wagz||not disclosed||acquisition||Petzila||Cameras||June 2018||Petzila makes pet cameras|
|MedScience Ventures||$1.8 million||investment||Wagz||Trackers||May 2018|
|Menlo Partners||$155 million||investment||Rover.com||Services||May 2018||Marketplace for dog sitters|
|Dane Creek Capital||$4 million||investment||PetPlate||Food & Subscription||May 2018|
|Mars Petcare||not disclosed||acquisition||Optigen||Pet Health||March 2018||Optigen performs genetic testing for dogs|
|HCS Capital||$4 million||investment||FIGO pet insurance||Pet Health||March 2018|
|Softbank||$300 million||investment||Wag||Services||January 2018||Wag is a dog walking service|
|Petco||not disclosed||acquisition||PetinsuranceQuotes.com||Pet Health||January 2018|
|Mars Petcare||not disclosed||acquisition||Genoscoper Labrotories||Pet Health||January 2018||Finland-based Geneoscoper operates the genetic testing website MyDogDNA.com|
|Eniac Ventures||$4.5 million||investment||Fuzzy Pet Health||Pet Health||December 2017||Subscription-based pet wellness|
|Petco||undisclosed||acquisition||PupBox||Food & Subscription||November 2017||Monthly Subscription box|
|Petcube||not disclosed||acquisition||Petbot||Pet Cameras||June 2017|
|Phillips Pet Food & Supplies||not disclosed||acquisition||PetFlow.com||eCommerce||May 2017|
|Petco||not disclosed||acquisition||PetCoach||Apps||April 2017|
|PetSmart||$3.4 billion||acquisition||Chewy.com||eCommerce||April 2017|
|EquiMedia||not disclosed||acquisition||PetinsuranceReview.com||Pet Health||March 2017|
|Rover||$47 million||acquisition||DogVacay||Services||March 2017|
|Chuck & Don’s||not disclosed||acquisition||Fetch||eCommerce||March 2017|
|Mars Petcare||$9.1 billion||acquisition||VCA vet clinincs||Pet Health||January 2017|
|Petco||$10 million||investment||PetNet||Feeders||August 2016|
|IHC Group||undisclosed||acquisition||PetPlace.com||eCommerce||October 2016||IHC purchased the pet-health focused website, Petpace.com from Embrace Pet Insurance|
|August Capital||$60 million||investment||BarkBox||Food & Subscription||May 2016|
|PetSmart||undisclosed||acquisition||DCL Ventures||eCommerce||April 2016||DCL Ventures operated AllPaws.com, an online pet adoption platform|
|Mars Petcare||$117 million||acquisition||Whistle Labs||Trackers||April 2016|
|PetSmart||$130 million||acquisition||Pet360||eCommerce||September 2014|
Below is a quick guide to the different types of capital raising that are typically used by startup companies.
- 1. Pre Seed – the earliest stage of funding, this capital is usually provided by the founders themselves, as well as friends and family. The goal is to raise enough money that will enable the company to create a minimum viable product or otherwise validate their business idea. The amount raised is usually $50,000 to $250,000.
- 2. Seed – seed founding is for companies that have already validated their value proposition. Typically, the company will have consistent monthly revenue and sales are increasing every month. Most series A investors are early stage venture capital funds or angel investors. The amount raised is typically in the range of $500,000 – $2M in exchange for 10% – 20% equity in the company.
- 3. Series A – only 10% of the companies that raise a seed round are successful enough to make it the next step, a Series A round of funding. Typically, Series A rounds raise approximately $2 – $15 million. Investors come from more institutional venture capital firms and often work in groups, with one firm acting as the lead investor, with the others as capital contributing partners.