Venture Capital News: Rover.com Nabs $65M
SEATTLE, WA, Rover.com, the nation's largest network of pet sitters and dog walkers, today announced a $65 million round of funding.
The round was led by Spark Capital and includes new investors Bespoke Strategies and StepStone Group. Existing shareholders Madrona Venture Group, Menlo Ventures, Foundry Group, OMERS Ventures and Technology Crossover Ventures also participated in the financing. Rover will use the funding for international expansion, to drive brand awareness and to launch new services and tools for sitters and owners.
"We are delighted to partner with Aaron and the Rover team as they continue to build the world's largest marketplace for pet services," said Megan Quinn, General Partner at Spark Capital. "The Rover platform has taken what was once a highly fragmented, distributed network of pet sitters and dog walkers and made arranging care an easy and secure experience. What is particularly unique about Rover is the deep well of vetted, reviewed caretakers they've cultivated over time that they can continue to leverage to offer additional services and enter new markets."
As part of this latest round, Megan Quinn, General Partner at Spark Capital, will join Rover's Board of Directors.
Rover continues its explosive growth, expecting a 200% increase in net revenue in 2017. The company's network of vetted sitters has grown more than 100% year over year, now topping more than 140,000 sitters throughout North America. Additionally, Rover continues to be the largest network of dog walkers in the nation, with more than 100,000 of their sitters also offering dog walking services on the platform. Rover is currently booking millions of services each quarter - about a service every 4 seconds.
"We find that people are increasingly looking for quality, technology-enabled services to make their lives easier and more enjoyable, and Rover is leading this movement for the pet care industry," said Aaron Easterly, CEO of Rover. "With this significant funding from new and returning investors, we will continue to innovate on ways we can make it easier for pet parents to find and book every day pet care. Additionally, our global expansion will give people around the world the ability to know the love and joy of owning a pet."
Rover recently acquired DogVacay, further establishing itself as the largest network of dog sitters and walkers in North America. Following the acquisition, Rover has been testing its platform in Canada and currently has thousands of pet sitters available in the region. Additional geographical expansion and continued market growth is planned for the coming year.
Earlier this year, Rover introduced its first integrated national brand campaign, "The Dog People". This initial campaign represents the biggest media investment that the company has made to date, and the largest such effort in the emerging category of online-sourced, peer-to-peer dog care. A significant portion of this latest round will go toward further building out the Rover brand and cementing Rover as the household name for dog care.
Rover.com is the largest network of 5-star pet sitters and dog walkers in North America. Serving pet parents across the U.S. and Canada, Rover connects dog owners with trusted pet care whenever they need it. Millions of services have been booked on Rover, including pet sitting, dog walking, in-home dog boarding, and doggy day care.
Founded on the belief that everyone should have the opportunity to experience the unconditional love of a dog, Rover improves and simplifies life for dog people and the pets they love. As The Dog PeopleTM, Rover gives pet parents peace of mind whenever they're away from their dogs by offering premium insurance, 24/7 support, background checks, vet consultations, GPS walk tracking, and the nation's #1 pet sitting and dog walking app. And with Daily Treat -- one of the nation's top dog blogs -- Rover reaches millions of readers with tips and articles that delight, inform, and enhance the bond between people and their pets.
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