How Much Did Wagmo Raise? Funding & Key Investors

Wagmo has successfully raised funds over 8 rounds, with the latest being a Venture - Series Unknown. The company is backed by 25 investors, including Erie Strategic Ventures and Touchdown.

Wagmo offers modern pet healthcare solutions, including wellness plans, pet insurance, and tele-veterinary services. Keep reading to explore the intricacies of Wagmo's fundraising journey and the investors backing this innovative platform.

What Is Wagmo?

Wagmo, based in New York, New York, operates a pet wellness platform offering pet insurance and routine care. The company falls under the categories of B2C, Insurance, and Pet, and employs between 11-50 people.

Wagmo provides modern pet healthcare services, including wellness plans, insurance, and televet consultations. They also offer a variety of pet care products such as toys, treats, food, medication, and accessories.

How Much Funding Has Wagmo Raised?

1. Series Unknown
   • Amount Raised: Not publicly disclosed
   • Date: January 2024
   • Lead Investors: Erie Strategic Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To continue expanding their pet healthcare services and enhance their platform.
2. Series A
   • Amount Raised: USD 8,874,987
   • Date: August 2023
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and further develop their pet wellness and insurance offerings.
3. Series A
   • Amount Raised: USD 12,500,000
   • Date: July 2021
   • Lead Investors: Revolution Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand their pet insurance market and develop wellness services.
4. Seed
   • Amount Raised: USD 3,000,000
   • Date: December 2019
   • Lead Investors: Harlem Capital, Vestigo Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To launch their pet wellness platform and initial services.
5. Seed
   • Amount Raised: USD 120,000
   • Date: July 2019
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support early-stage development and market entry.
6. Seed
   • Amount Raised: Not publicly disclosed
   • Date: July 2022
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further develop their platform and expand their service offerings.
7. Seed
   • Amount Raised: Not publicly disclosed
   • Date: December 2018
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support initial product development and market research.
8. 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 gain mentorship and resources for early-stage growth.

Total Amount Raised: USD 24,494,987

Current Valuation: Not publicly disclosed

Key Investors

• Erie Strategic Ventures
  • Details: Erie Strategic Ventures is the investment arm of Erie Insurance, focusing on innovative companies in the insurance sector.
  • Investment Focus Areas: Insurance industry innovation
  • Notable Investments: Wagmo
• Revolution Ventures
  • Details: Revolution Ventures is a venture capital firm that invests in early-stage companies disrupting traditional industries.
  • Investment Focus Areas: Technology, consumer products, services
  • Notable Investments: Sweetgreen, DraftKings, Custom Ink
• Harlem Capital
  • Details: Harlem Capital is a venture capital firm that focuses on investing in minority and women entrepreneurs.
  • Investment Focus Areas: Early-stage companies led by diverse founders
  • Notable Investments: Wagmo
• Vestigo Ventures
  • Details: Vestigo Ventures is a venture capital firm that invests in early-stage fintech companies.
  • Investment Focus Areas: Fintech, insurtech, data analytics
  • Notable Investments: Insurify, Mirador, Student Loan Genius
• MassChallenge
  • Details: MassChallenge is a global network of zero-equity startup accelerators.
  • Investment Focus Areas: Early-stage startups across various industries
  • Notable Investments: Wagmo

What's Next for Wagmo?

Wagmo is poised to capitalize on the booming pet care industry by expanding into the employer benefit space. With a 20% month-over-month user growth and 30,000 wellness claims processed, the company is well-positioned to attract larger organizations to include Wagmo in their employee benefits packages. This opportunity could significantly increase their user base and revenue streams.

Future fundraising opportunities look promising as Wagmo continues to grow. The successful Series A round and the exploration of an enterprise model could attract further investment from venture capitalists and corporate investors. However, the company will need to navigate challenges such as prioritizing opportunities and managing rapid growth while maintaining service quality.

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