Total amount raised
$281.7 Millions
Latest funding date
06/01/2021
Location
BarkBox has successfully raised significant funding through multiple rounds, with its most recent funding type being Post-IPO Equity. The company has attracted a diverse group of 27 investors, including notable names like Senator Investment Group and Fidelity.
Keep reading to explore the intricacies of BarkBox's fundraising journey and the investors backing this innovative subscription service for dog products.
What Is BarkBox?
BarkBox, founded in 2012 by Carly Strife, Henrik Werdelin, and Matt Meeker, is a subscription service that delivers monthly boxes of dog toys and treats. The company operates in the e-commerce, pet, and subscription service industries and is headquartered in New York, New York.
With an employee count ranging from 501 to 1000, BarkBox emphasizes dog happiness and safety, offering customizable boxes based on the dog's needs and preferences. The company also provides various subscription plans and maintains rigorous safety standards for its products.
How Much Funding Has BarkBox Raised?
- Debt Financing
- Amount Raised: $25K
- Date: January 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure initial capital for operational expenses and early-stage development.
- Seed Round
- Amount Raised: $1.7M
- Date: July 2012
- Lead Investors: Resolute Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the product line and scale the subscription service.
- Series A
- Amount Raised: $5M
- Date: April 2013
- Lead Investors: RRE Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance marketing efforts and grow the customer base.
- Series B
- Amount Raised: $15M
- Date: July 2014
- Lead Investors: Resolute Ventures, RRE Ventures
- Valuation at Round: Increased by 10-11 times over Series A
- Motivation Behind the Round: To provide a financial cushion and seize future opportunities.
- Series C
- Amount Raised: $60M
- Date: May 2016
- Lead Investors: August Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support product diversification and market expansion.
- Post-IPO Equity
- Amount Raised: $200M
- Date: June 2021
- Lead Investors: Federated Kaufmann Fund, Fidelity, Quadrant Capital Advisors, Senator Investment Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To raise additional capital for expansion and strategic initiatives post-IPO.
Total Amount Raised: $281.725M. Current Valuation: Not publicly disclosed.
Key Investors
- Federated Kaufmann Fund
- Details: Federated Kaufmann Fund is a mutual fund that focuses on investing in small-cap and mid-cap companies. It aims to provide long-term capital appreciation.
- Investment Focus Areas: Technology, healthcare, consumer goods
- Notable Investments: Not publicly disclosed
- Fidelity
- Details: Fidelity is a multinational financial services corporation known for its brokerage, mutual funds, and investment management services. It serves individual investors, businesses, and financial advisors.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: Uber, SpaceX, Airbnb
- Quadrant Capital Advisors
- Details: Quadrant Capital Advisors is a private investment firm that manages assets for high-net-worth individuals and families. It focuses on long-term growth and capital preservation.
- Investment Focus Areas: Real estate, technology, consumer goods
- Notable Investments: Not publicly disclosed
- Senator Investment Group
- Details: Senator Investment Group is a private investment firm that employs a multi-strategy approach, including long/short equity, credit, and event-driven investments. It aims to generate high risk-adjusted returns.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: Not publicly disclosed
- August Capital
- Details: August Capital is a venture capital firm that invests in early-stage and growth-stage technology companies. It has a history of backing innovative startups.
- Investment Focus Areas: Technology, software, internet
- Notable Investments: Microsoft, Sun Microsystems, Splunk
What's Next for BarkBox?
As BarkBox looks to the future, the company is poised to capitalize on several promising opportunities. The expansion of BarkCare to new cities and the growth of The BarkPost as a content and lead generation platform present significant avenues for growth. Additionally, the development and promotion of new apps like BarkBuddy and BarkCam could further enhance user engagement and drive customer acquisition.
Given these opportunities, BarkBox may consider future fundraising rounds to support its expansion and innovation efforts. The company has already demonstrated its ability to attract substantial investment, and further growth rounds could provide the necessary capital to scale its newer businesses. There is also the potential for acquisition by a larger company, particularly as interest from big-name pet retailers continues to grow.
However, BarkBox will need to navigate several challenges along the way. Competition from other pet-related subscription services and e-commerce platforms remains fierce, and scaling the on-demand vet care service to new markets will require careful planning and execution. Maintaining high customer retention rates and integrating new services and apps into the existing business model will also be critical to the company's continued success.
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