Total amount raised
$24.5 Millions
Latest funding date
01/01/2024
Location
Wagmo has successfully raised significant funding through multiple rounds, with the latest being a Venture - Series Unknown round. The company is backed by a diverse group of 22 investors, including Erie Strategic Ventures and Junction Venture Partners.
Wagmo offers a comprehensive pet wellness platform that includes both pet insurance and routine care plans. Keep reading to explore the intricacies of Wagmo's fundraising journey and the investors backing this innovative platform.
What Is Wagmo?
Wagmo, founded in 2018 by Alison Foxworth and Christie Horvath, operates a pet wellness platform offering both pet insurance and routine care plans. The company is headquartered in New York, New York, and employs between 11-50 people.
Specializing in the pet insurance and wellness industry, Wagmo provides preventative care through reimbursements for routine expenses like exam fees, vaccinations, and flea, tick, and heartworm prevention. The platform is designed to cater to both individual pet owners and businesses, offering a comprehensive approach to pet health and wellness.
How Much Funding Has Wagmo Raised?
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: January 2024
- Lead Investors: Erie Strategic Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand services and secure new partnerships.
- Venture Round
- Amount Raised: $8.9M
- Date: August 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and scale operations.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: July 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop key product features and expand the team.
- Series A
- Amount Raised: $12.5M
- Date: July 2021
- Lead Investors: Revolution Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the team, develop key product features, and secure new partnerships.
- Seed Round
- Amount Raised: $3M
- Date: December 2019
- Lead Investors: Harlem Capital, Vestigo Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To address the gap in the market for comprehensive pet insurance.
- Seed Round
- Amount Raised: $120K
- Date: July 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch initial product offerings and gain market traction.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: December 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial platform and secure early adopters.
- Non-Equity Assistance
- Amount Raised: Not publicly disclosed
- Date: May 2018
- Lead Investors: MassChallenge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To participate in an accelerator program and gain mentorship.
Total Amount Raised: $24.52M
Current Valuation: Not publicly disclosed
Key Investors
- Revolution Ventures
- Details: Revolution Ventures is a venture capital firm that led Wagmo's Series A financing round. The firm focuses on investing in transformative companies that leverage technology to disrupt traditional industries.
- Investment Focus Areas: Technology, transformative companies, innovative startups
- Notable Investments: Sweetgreen, DraftKings, Zipline
- Female Founders Fund
- Details: Female Founders Fund is a venture capital firm that invests in early-stage companies founded by women. They participated in Wagmo's Series A funding round.
- Investment Focus Areas: Female-led startups, early-stage companies, diverse industries
- Notable Investments: Zola, Rent the Runway, Maven Clinic
- Clocktower Technology Ventures
- Details: Clocktower Technology Ventures is a venture capital firm specializing in financial technology (fintech) investments. They participated in Wagmo's Series A funding round.
- Investment Focus Areas: Financial technology, fintech, insurtech
- Notable Investments: Chime, Hippo Insurance, Next Insurance
- Vestigo Ventures
- Details: Vestigo Ventures is a venture capital firm that focuses on early-stage financial technology companies. They participated in Wagmo's Series A funding round.
- Investment Focus Areas: Early-stage fintech, financial services, insurtech
- Notable Investments: Vestmark, Mirador, LifeYield
- Erie Strategic Ventures
- Details: Erie Strategic Ventures is an investor in Wagmo, participating in their latest venture round. Specific details about the firm are not publicly disclosed.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: Not publicly disclosed
What's Next for Wagmo?
Wagmo is poised to capitalize on the booming pet care industry by expanding its wellness and insurance plans into the employer benefits space. This move could significantly increase its user base and market reach. The company has already seen a 20% month-over-month growth in users, indicating a strong demand for its services.
Future fundraising opportunities are likely, with potential Series B rounds and strategic partnerships on the horizon. However, Wagmo will need to navigate challenges such as resource allocation and breaking into the competitive employer benefits market. Maintaining high-quality service while scaling operations will be crucial for sustained growth.
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