Dog News

Pet sitting startup “Rover” announced $40M funding round

Last month, it was reported by the startup community that the pet sitting and dog walking company named “Rover” was closing a $40 million round. Well, it seems that the Series E funding deal has been closed as of today.

Leaders of this funding round were Menlo Ventures and Foundry Group with addition of Madrona Venture Group, who are existing investor. When we sum up Rover’s total funding, the amount comes up to a staggering $90 million!

“At Menlo we have been fortunate to back companies like Uber, Siri, Hotmail and Gilead Sciences,” said Menlo managing director Venky Ganesan in the funding release. “Rover is on that trajectory and that’s why we decided to double down and go all in on this investment.”

Rover’s expansion from pet sitting to dog walking last year proved to be a success, since the company claims to have more than 65000 walkers and sitters in its network, with an average of 1 million bookings each quarter.

Rover claims the new funding shall be used “to continue redefining the pet care space through product developments, geographical expansion and continued market growth.” Additionally, the company claims that the money from this round could be used for acquisitions.

Leave a Comment