US pet supplies retailer Petco has reinvested in US Rover.com, an online community that connects dog owners with in-home petsitters. The latest deal was led by new investor Menlo Ventures.
Existing backers including Foundry Group also took part. To date, the company has raised $25m and other investors include Foundry Group, Madrona Venture Group and Crunchfund. Petco previously invested in a $3.5m venture round in July 2013.
Rover’s online marketplace matches dog owners with local sitters, who are verified and reviewed. Founded in Seattle, the platform has expanded to every major US market, providing dog owners with access to other pet services such as overnight boarding, pet and sitter insurance, vet consults, dog walking, and in-home daycare services. Petco promotes the service both online and in its stores.
On mobile, dog owners can stay in touch with their sitter through a messaging app that lets them chat, and share photos. The company said it will use the new investment to increase its full-time staff, invest in its mobile app, grow its customer base and expand its products and services.
News reports stated that the company has confirmed that it ended 2013 with an 800% year-over-year revenue growth rate.
When not working on Rover.com founder Greg Gottesman (pictured) is a managing director at Madrona Venture Group, an early stage venture capital firm in the Pacific Northwest with approximately $1bn under management. He currently serves on the board of Rover.com.