Total amount raised
$67.9 Millions
Latest funding date
3/1/2024
Location
Ollie has successfully raised funds through multiple rounds, with its latest being a Series D. The company has garnered support from 13 investors, including notable names like Alumni Ventures and Montauk Ventures.
Keep reading to delve into the details of Ollie's fundraising journey and the investors who believe in its mission to deliver fresh, human-grade dog food.
What Is Ollie?
Ollie, founded on October 5, 2016, in Reno, Nevada, is a pet wellness brand that delivers freshly cooked, human-grade food tailored to each dog’s nutritional needs. The company was established by Alexandre Douzet, Benjamin Sun, Gabby Slome, and Randy Jimenez.
Ollie’s meals are free of by-products and are portioned, packaged, and delivered directly to customers' doors. The food is made from whole, natural ingredients and high-quality meats, ensuring balanced nutrition for dogs at all life stages.
With a team of 101-250 employees, Ollie continues to grow, focusing on providing fresh, healthy meals for dogs across the United States.
How Much Funding Has Ollie Raised?
- Seed Round
- Amount Raised: $4.4M
- Date: October 2016
- Lead Investors: Lerer Hippeau, Primary Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To disrupt the premium pet food space by offering customized, healthy, and natural meals for dogs.
- Series A
- Amount Raised: $12.6M
- Date: August 2017
- Lead Investors: Canaan Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and expand product offerings.
- Venture Round
- Amount Raised: $280K
- Date: August 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and growth.
- Venture Round
- Amount Raised: $29.3M
- Date: March 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product development and market reach.
- Series D
- Amount Raised: $21.3M
- Date: March 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and expand into new markets.
Total Amount Raised: $67.88M. Current Valuation: Not publicly disclosed.
Key Investors
- Primary Venture Partners
- Details: Primary Venture Partners is a venture capital firm that focuses on early-stage investments. They co-led Ollie's $4.4 million seed round.
- Investment Focus Areas: Technology, Consumer Products, E-Commerce
- Notable Investments: Not publicly disclosed
- Lerer Hippeau
- Details: Lerer Hippeau is a New York-based venture capital firm investing in early-stage companies. They co-led Ollie's seed round.
- Investment Focus Areas: Technology, Media, Consumer Products
- Notable Investments: BuzzFeed, Casper, Warby Parker
- Canaan Partners
- Details: Canaan Partners is a venture capital firm that invests in early to growth-stage companies. They participated in Ollie's seed round.
- Investment Focus Areas: Technology, Healthcare
- Notable Investments: LendingClub, Match.com, Ebates
- Alumni Ventures
- Details: Alumni Ventures is a venture capital firm that provides smart, simple venture portfolios to individual investors. They are one of Ollie's key investors.
- Investment Focus Areas: Technology, Healthcare, Consumer Products
- Notable Investments: Not publicly disclosed
- Montauk Ventures
- Details: Montauk Ventures is a venture capital firm that invests in innovative startups. They are a significant investor in Ollie.
- Investment Focus Areas: Technology, E-Commerce, Consumer Products
- Notable Investments: Not publicly disclosed
What's Next for Ollie?
Ollie stands at the cusp of significant growth opportunities, driven by the booming $13 billion premium pet food market. With plans to expand its product line to include cat food and extend its delivery service across the continental U.S., the company is well-positioned to capture a larger market share. The increasing demand for nutritious, customized pet food aligns perfectly with Ollie's mission, offering a substantial runway for future growth.
As the market continues to grow, Ollie may seek additional funding to support its expansion and product development. However, the company will need to navigate challenges such as maintaining consistent quality and scaling its delivery model nationally. Competition from other startups in the premium pet food space also poses a potential hurdle. Despite these challenges, Ollie's innovative approach and strong investor backing suggest a promising future.
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