It’s no denying it, we love our pets and we’re willing to spend countless amounts of money in order to enhance their health, happiness, and even appearance.
According to the American Pet Products Association an estimated $58.5 billion was spent on pets in 2014. With nearly $330 million on pet costumes for Halloween alone.
From OnDemand Pet Adoptions to “Furspray” the newest way to decorate your pet for special occasions, Pet Startups combine the love of animals with a high-growth business opportunity. However, along with business opportunities comes fierce competition.
Currently listed on Angel List, there are 490 Pet Startups with an average valuation of $3.7 million across a pool 1,012 Investors. Leading the pack and setting the investment stage are DogVacay and Bark&Co.
DogVacay offers an on demand approach to petsitting near home, having securing 4 healthy funding infusions since 2012. Including: $1 million dollar seed round in May 2012, $6 million Series A round in Nov. 2012, $15 million dollar Series B round in Oct. 2013, and $25 million in Oct 2014.
Bark & Co. leveraged an untapped business model of a monthly subscription box of dog goodies with BarkBox and continued to expand across several other major properties:
BarkPost: Your daily dose of doggy news
BarkShop: Spoil your pup with the very best
BarkBuddy: Find fluffy adoptable singles in your area
BarkLive: Amazing experiences for you and your dog
Also securing a steady funding infusion including: $25,000 in Jan 2012, $1.7million in July 2012, $5million Series A round in April 2013, and $15million Series B Round in July 2014.
Funding is so red hot for Pets Startups, if the U.S. pet products industry collectively was a Fortune 500 company, it would be bigger than Google, Dell, UPS, or Coca-Cola.
Meanwhile, like any high-growth industry, it’s attracting a new breed of startup entrepreneurs with furry ambitions.
Here are a few “underdogs” that captured our attention here at The Startup Up Garage.
XcDogs: Based out of Jackson Hole, Wyoming, and it connects people who travel with their pets to locals willing to pet-sit short-term who is actively seeking funding at this time.
CleverPet: a local San Diego Startup which with a “Smart” pet gadget that educates and interacts with your animal companion in your absence. CleverPet had a successfully funded Kickstarter campaign of $180,623 and appears to have a variety of undisclosed funding in Sept 2015.
Urban Leash: offers on demand dog walking and cat-sitting services from anywhere at anytime, who a secured a $99,500 seed round in Nov 2014.
AllPaws is OkCupid for Finding Pets to Adopt, Swiping left and right and sifting through profiles is a regular practice for people looking for love nowadays.
Through the website and app AllPaws, the same approach is being used for those looking for a four-legged soulmate. AllPaws raised $1 million in capital in April 2013.