Seattle-based Rover raises $12M in Series C round
Seattle-based pet sitting marketplace Rover secured $12 million for its Series C funding round, TechCrunch reported.
Menlo Ventures, a new investor, led the round for the service that gets together dog owners and in-home sitters. Madrona Venture Group, Foundry Group and retailer Petco also joined in the round. As part of the deal, Sunil Raman and Venky Ganesan, both of Menlo Ventures, will be part of the Board of Directors of Rover, the report said.
Proceeds from the latest round brings Rover's fundraising total to almost $25 million. Rover said the funds will be used to grow its workforce, add more customers, increase its products and services and invest in technology, the report said.
In a statement, Menlo Ventures' Sunil Raman said, "Rover is a great example of the sharing economy at its best. It turns out that there are a lot of pet owners in this country, and Rover allows families to quickly coordinate overnight pet care. After getting to know Aaron and his team, we were certain this was a passionate group chasing a huge market opportunity."
Through Rover's online marketplace, dog owners can be matched with verified and reviewed sitters. In addition to dog sitting and boarding, Rover also offers access to other services for their pets, such as pet and sitter insurance, dog walking, veterinary consultations as well as the "Pooch Hotels" of Petco. In addition, Rover also has an app that enables dog owners to connect with their pet's sitter. The app allows them to chat and share photos so that owners are updated on what is happening with their pets, the report said.
Because Rover is present in each major city in the US, 92% of the population in the US is just a short drive away from a verified pet sitter Rover. Having Petco as a backer has also contributed to this because the retailer advertises the service Rover provides as well.