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Rover.com, the online platform that connects dog owners with a range of services — such as dog walking and doggy day care — has raised $40 million in a Series E round led by Foundry Group and Menlo Ventures, with participation from Madrona Venture Group.
Founded out of Seattle in 2011, Rover lets you sign up as a service provider or a dog owner, with a simple online form that facilitates search for a specific offering, including dog-boarding, house-sitting, and drop-in visits. The company also recently introduced Rover Cards to its mobile apps, letting care providers share real-time information with the dog’s owners, such as a GPS-powered map of the dog’s walk, photos, and other messages.
A number of similar companies have sprung up over the years, including Jogs for Dogs and the now-defunct Stayhound. But Rover is slowly emerging as a preeminent brand in the pet-sitting space, claiming 65,000 sitters and dog walkers across the U.S., while boasting that it “tripled” its revenues last year (though it hasn’t provided any real numbers).
However, Rover has now raised around $90 million in funding to date, garnering around $50 million over a number of rounds dating back to 2012. Its latest cash injection will be used to continue “redefining the pet care space through product developments, geographical expansion and continued market growth,” according to a statement. Additionally, the company may pursue mergers and acquisitions.
“Every once in a while, you have the opportunity to back a category-defining company,” said Venky Ganesan, managing director at Menlo Ventures. “At Menlo, we have been fortunate to back companies like Uber, Siri, Hotmail and Gilead Sciences. Rover is on that trajectory, and that’s why we decided to double down and go all in on this investment.”
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