This brings PetLove's total funding to $237.5M. Here are the top-line bullets you need to know.
PetLove, an e-commerce platform for pet products, has raised $150M in private equity funding. The round drew participation from Riverwood Capital, Monashees+, and the SoftBank Latin America fund, among others.
How’s the company performing?
- Brazil-based PetLove allows customers to buy pet products and also schedule veterinary appointments.
- The company’s sales increased 65% year-over-year in 2020.
- PetLove has over 15,000 items on its platform, and it also has 3,000 partners.
- The company has over 400 employees.
Why does the market matter?
- The global pet technology market is projected to grow at a CAGR of 22% and reach a value of over $20B by 2027, according to Global Market Insights.
- Increasing pet adoption and consumer spending in pet care in conjunction with the Covid-19-induced digital acceleration has contributed to industry growth.