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The Strength of Pet Tech 🐾

The Strength of Pet Tech 🐾
December 15, 2020

The Daily Stack is a daily market insight newsletter by PrivCo, a private market intelligence platform. Read our previous insights.
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We released a detailed report today exploring the growth of digital pet care. Here’s a quick summary of some key findings but be sure to download the full report if you are interested in learning more about the booming pet tech industry. 

  • According to the American Pet Products Association, the pet care business is growing at a phenomenal rate and is at a $99BN market this year according to previous market predictions before the pandemic. 
  • The shift is due to the younger millennials and Gen Xers owning pets and with quarantine and many work-from-home families, pet adoption has increased dramatically. 
  • More pet owners mean new business ideas targeting these new pet owners have flourished The categories of business have also expanded ranging from gourmet foods, toybox subscriptions, walking gear, veterinary, and even a gig economy tailored to dog sitting and walking. 
  • Moreover, brick and mortar giants like Petco and Petsmart are also thriving from shifting to more health and nutrition-focused products to better online delivery services. 
  • We’ve got our eyes on some interesting services around fresh dog food. For example, even despite the competition with existing big-name kibbles brands, emerging fresh food brands like DTC brand The Farmer’s Dog has continually made headlines as one of the top recommended fresh food brands for dogs.
  • Meanwhile, if you’re an active dog owner, gadgets are now not just for you but available for dogs as well. Fi Dog Collars and Whistle Labs both market wearable technology attached to a dog collar to track activity as well as act as a fail-proof for finding a lost dog. The latter company has already secured an acquisition by global manufacturer Mars.
PrivCo 50 Spotlight: Instacart
We shared the most resilient companies of 2020 in a Daily Stack last week. Here’s our deep dive into the top company, Instacart.
Y Combinator had a great year
The prestigious SV startup accelerator Y Combinator had a great year as its biggest portfolio companies debuted on the public market. 
Since last week, PrivCo has added:
1155 Companies | 188 Funding Activities | 226 M&A Deals

Funding & Deal Highlights:

Cityblock Health raises $160MM led by General Catalyst
Health Care Services • Round C • Brooklyn, NY

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Hibob raises $70MM co-led by SEKK and Israel Growth Partners
Human Resources Software & Internet Services • Round B • New York, NY

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BoastAI raises $23MM from Radian Capital
Accounting Software & Internet Services • Round A • San Francisco, CA

XL Media acquires Elite Sports NY
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United Real Estate merges with Benchmark Realty
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CarGurus acquires CarOffer for $275MM
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