While many are familiar with the flood of daily deals emails tempting us with everything from discounted massages to discounted car detailing, daily-deals-for-dogs website doggyloot’s recent $2.5 million backing had us begging the question: are investors pampering pet-related companies, too? According to the PitchBook Platform, the answer is a firm “yes,” with 13 pet-related U.S. companies already fetching a total of $210 million in funding in 2013 to date, just under last year’s $225 million of total capital invested in 18 companies. All in all, 185 pet-related VC investments have taken place in the U.S. over the years.
California-based pet companies landed 26% of the deals in the timeframe, perhaps explaining how some celebrity pets maintain as much notoriety as their owners. New York-based companies have accounted for 18%, while Washington follows with 8%. From the West Coast to the East Coast, pet companies continue to gain attention and funding, including deals for A Place for Rover ($10.5 million Series B financing), Whistle ($6 million Series A) and BarkBox ($5 million Series A), all of which were completed this year.
After the huge jump in total capital invested from 2010 ($90 million) to 2011 ($275 million), investment in pet companies has tapered slightly, but the industry is on track to surpass last year’s total funding.