Rover

Rover, is a pet-care service provider which operates through online and mobile platforms connecting pet-owners with pet-care service providers that offer pet boarding and sitting services, dog daycare, dog-walking, and drop-in visits. As of February 2021, the company served more than two million pet-owners and 500,000 service providers across North America and Europe.

In October 2018, Rover acquired DogBuddy, a UK-based dog walking, boarding, and daycare company, to expand its presence in the UK, France, Italy, Germany, and several other EU countries.

Key customers and partnerships

In November 2020, the company partnered with Walmart, where Walmart.com promotes Rover under Walmart Petcare. In a similar effort, Rover entered into a partnership with pet retailer Petco in February 2022, where Petco promotes Rover under petco.com and Petco's Vital Care membership program.

Funding and financials

In May 2018, Rover raised USD 155 million led by T. Rowe Price (a global asset management firm), marking its largest funding round. The funds were utilized for accelerating expansion into Europe, entering Latin American region and expanding into cat-care services (in April 2019).

In August 2021, Rover went public via the SPAC route with  Nebula Caravel Acquisition Corp. valued at USD 1.35 billion. In December 2023, the company announced that it will be acquired by Blackstone in an all-cash transaction valued at approximately USD 2.3 billion. 

For the full-year 2022 (FY2022), the company achieved revenue growth of 58% YoY to reach USD 174 million, which was mainly supported by a 32% YoY growth in bookings. Furthermore, the company reported a GAAP net loss of USD 22.0 million, which had narrowed down by 66% YoY. The company's Adjusted EBITDA was USD 20.8 million. On the back of robust Q1 2023 performance, Rover revised its FY2023 guidance, with revenue to range from USD 207 million to USD 217 million, an increase from the previous range of USD 205 million to USD 215 million, and adjusted EBITDA in the range of USD 29 million to USD 34 million, compared to the previous range of USD 25 million to USD 30 million.