Total amount raised
$1 Billions
Latest funding date
03/01/2018
Location
Title
Rover.com has successfully raised significant funding over multiple rounds, establishing itself as a key player in the pet care industry. The platform connects pet owners with trusted pet sitters and dog walkers, offering a range of services from dog boarding to dog training.
Keep reading to explore the intricacies of Rover.com's fundraising journey and the investors backing this innovative platform.
What Is Rover.com?
Rover.com, founded in 2011 in Seattle, Washington, connects pet owners with trusted pet sitters and dog walkers. The platform offers services such as dog boarding, house sitting, drop-in visits, doggy day care, dog walking, and dog training.
Founded by Greg Gottesman, Philip Kimmey, and Aaron Easterly, Rover.com has grown significantly since its inception. The company emphasizes trust and safety through features like background checks, verified reviews, and 24/7 support.
With a dedicated team of over 500 employees, Rover.com continues to innovate in the pet care industry, ensuring peace of mind for pet owners and quality care for their pets.
How Much Funding Has Rover.com Raised?
- Series C Round
- Amount Raised: $12 million
- Date: March 12, 2014
- Lead Investors: Menlo Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the fast-growing marketplace and enhance transaction quality.
- Funding Round
- Amount Raised: $25 million
- Date: March 19, 2015
- Lead Investors: Technology Crossover Ventures (TCV)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive marketplace growth and deliver reliable pet care.
- Series E Round
- Amount Raised: $40 million
- Date: September 9, 2016
- Lead Investors: Menlo Ventures, Madrona Venture Group, Foundry Group
- Valuation at Round: Nearly $300 million
- Motivation Behind the Round: To support growth and expand services.
Total Amount Raised: $77 million
Current Valuation: Nearly $300 million
Key Investors
- Menlo Ventures
- Details: Menlo Ventures is a venture capital firm that provides capital for seed through growth technology companies. They led Rover.com's $12 million Series C round.
- Investment Focus Areas: Consumer technology, enterprise technology, healthcare.
- Notable Investments: Uber, Roku, Warby Parker.
- Madrona Venture Group
- Details: Madrona Venture Group is a venture capital firm that invests in early-stage technology companies, primarily in the Pacific Northwest. They have been involved with Rover.com since an earlier stage.
- Investment Focus Areas: Cloud computing, machine learning, consumer software.
- Notable Investments: Amazon, Smartsheet, Redfin.
- Foundry Group
- Details: Foundry Group is a venture capital firm focused on investing in early-stage information technology, internet, and software startups. They participated in Rover.com's Series C round.
- Investment Focus Areas: Human-computer interaction, marketplaces, protocols.
- Notable Investments: Zynga, Fitbit, SendGrid.
- Technology Crossover Ventures (TCV)
- Details: TCV is a leading provider of capital to growth-stage companies in the technology industry. They led Rover.com's $25 million funding round.
- Investment Focus Areas: Internet, software, financial technology.
- Notable Investments: Facebook, Netflix, Spotify.
- Petco
- Details: Petco is a leading pet specialty retailer that provides products, services, and advice for pet parents. They are an investor in Rover.com, leveraging their expertise in the pet industry.
- Investment Focus Areas: Pet products, pet services, pet technology.
- Notable Investments: Primarily involved in the pet industry, with investments in various pet care startups and technologies.
What's Next for Rover.com?
Rover.com stands at the cusp of significant growth opportunities, driven by the expanding pet care market and the increasing reliance on online services. The company is poised to capitalize on the growing demand for virtual dog training through GoodPup and the potential for further acquisitions to broaden its service offerings. With a substantial market presence and a network of over 65,000 sitters, Rover.com is well-positioned to enhance its customer base and service range.
Future fundraising opportunities appear promising, especially given the company's history of successful funding rounds and its acquisition by Blackstone Group. Additional funding could support further expansion into new geographic markets and the development of innovative pet care solutions. However, Rover.com may face challenges such as maintaining service quality and navigating regulatory requirements as it scales. Competition from other pet care providers will also be a critical factor to watch.
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