<div>
  <p>
    <b>Funding</b>
  </p>
  <ul>
    <li>
      <p>
        <a href="https://sp-edge.com/companies/636628">
          Goose Insurance
        </a>
         raised USD 4 million in a Series A funding round led by Axis Insurance Managers, to accelerate the adoption of its app in Canada and the US through education and awareness initiatives.&nbsp;
      </p>
    </li>
  </ul>
  <p>
    <b>Earnings/results</b>
  </p>
  <ul>
    <li>
      <p>
        <b></b>
        <a href="https://sp-edge.com/companies/284855">
          Wag!
        </a>
         reported revenue growth of 110% YoY to USD 17 million in Q4 2022. The growth can be attributed to organic growth and strategic acquisitions aimed at diversifying the platform. The net income for Q4 2022 was USD 5.8 million, a significant improvement compared to a net loss of USD 2.7 million during the same period in 2021. The adjusted EBITDA loss in Q4 2022 was USD 0.4 million, a decrease from the loss of USD 2.5 million in Q4 2021. For FY2022, the company reported YoY revenue growth of 173% to USD 54.9 million. However, the net loss had widened by more than 5x to USD 38.6 million, mainly due to inclusive one-time transaction costs of USD 39.5 million. Despite this, the company still managed to achieve an adjusted EBITDA of USD 3.9 million. For FY2023, the company expects revenue to be within the range of USD 75 million to USD 77 million, and the adjusted EBITDA is expected to range from break-even to a loss of USD 2 million. (February 21, 2023; 
        <a href="https://www.businesswire.com/news/home/20230221005586/en/Wag%21-Reports-Record-Fourth-Quarter-and-Full-Year-2022-Financial-Results">
          Company press release,
        </a>
        <a href="https://investors.wag.co/static-files/65a6d3a7-f555-4a07-93ec-4c9ba38f87b9">
          Earnings Presentation)&nbsp;
        </a>
      </p>
    </li>
    <li>
      <p>
        <a href="https://sp-edge.com/companies/73037">
          Rover
        </a>
         reported revenue growth of 37% YoY to USD 52 million in Q4 2022, driven by a 20% YoY increase in bookings. In Q4 2022, the company's GAAP net income was USD 5.3 million, compared to USD 33.9 million in Q4 2021. Adjusted EBITDA and Adjusted EBITDA margin were USD 11.2 million and 22%, respectively, compared to USD 7.6 million and 20% in Q4 2021. In 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. For FY2023, Rover expects revenue to range from USD 205 million to USD 215 million, with adjusted EBITDA in the range of USD 25 million to USD 30 million. Additionally, the company announced a share repurchase program of up to USD 50 million of its Class A common stock. (February 27, 2023; 
        <a href="https://investors.rover.com/news-releases/news-release-details/rover-reports-fourth-quarter-and-full-year-2022-financial">
          Company press release)
        </a>
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


Pet ownership is at an all time high in the United States and the pet care economy is booming.

Pet Care Tech

Monthly News Summary (February 2023)

PROMINENT_CATEGORY

<div>

<p>Wag!, a company providing on-demand pet care services, has launched a new insurance comparison platform named "WeCompare.com." </p>
<p>This platform is designed to offer a comparative analysis of various insurance types, initially focusing on auto insurance. There are plans for expansion into home, travel, and life insurance in the future.</p>
<p>Moreover, it will also offer educational and data-focused content to help users make informed insurance decisions.</p>

</div>

Wag! Introduces WeCompare.com, an insurance comparison site

<div>
 <p>Wag! introduces "Furscription", a solution intended to improve pet care management. This includes the facilitation of scheduling, communication, and coordination activities between pet owners and service suppliers.</p>
 
</div>

Wag! launches Furscription software solution for pet care management

INCUMBENTS_PRESENT

<div>
 <p>Trupanion has launched a new pet health data program named "truInsights." This program aims to offer pet owners and veterinarians with complete insights into pet health and wellness. It makes use of data from Trupanion's large pet insurance database to deliver essential insights and trends. These insights aid in making better decisions regarding pet care and treatment plans.</p>
 
</div>

Trupanion launches 'truInsights,' a pet health data initiative

<div>
<p>Chubb is set to acquire pet insurance provider Healthy Paws from Aon plc. The acquisition price remains undisclosed. Healthy Paws, established in 2009, provides pet insurance and claims management to over half a million dogs and cats in the US. Chubb aims to use Healthy Paws' well-established brand and large customer base to expand in the pet insurance market.</p>
</div>

Chubb to acquire Healthy Paws to expand reach in pet insurance market

<div>
 <p>Swifto, a pet care company, has extended its operations in North Carolina through the acquisition of Wagz 'n Whiskerz, another company within the same industry. This strategic move is part of Swifto's plan to enhance its market position in pet care while simultaneously prioritizing top-tier care and convenience for pet owners in the area.</p>
 
</div>

Swifto acquires Wagz 'n Whiskerz in-home pet care business to expand reach in North Carolina

<div>
 <p>Wag! has purchased WoofWoofTV, a popular social media brand aimed at pet enthusiasts. This acquisition is aimed at utilizing WoofWoofTV's extensive influence to expand Wag!'s own platform in an organic manner, mainly through the creation of social media content. Wag!'s goal is to broaden its services beyond providing premier pet care, and to offer engaging content that revels in the fun and joy that pets bring.</p>
 
</div>

Wag! acquires WoofWoofTV to enter distributed media space

<div>
 <p>Vetster, a veterinary telehealth services provider, has introduced Vetster for Business, a comprehensive pet health platform. It includes unlimited real-time chat with vets, secure video consultations, 24/7 scheduling, and a mobile app for health tracking and medical records. Businesses can easily implement these services and get frequent usage reports.</p>
</div>

Vetster introduces Vetster for Business, a 24/7 veterinary telehealth solution

<div>
 <p>Petco has collaborated with Nationwide to offer pet insurance plans to fit varying needs and budgets. Customers can customize their insurance plans, with a reimbursement percentage ranging from 50-90% on qualified veterinary expenses. The flexible annual deductible ranges from $100-$500, with coverage limits between $500 to unlimited. Along with dogs and cats, the insurance coverage also extends to birds and exotic animals.</p>
</div>

Petco partners with Nationwide to launch customizable pet insurance

<div>
 <p>Petcube has unveiled its first dog wearable device to assist in tracking, monitoring, and maintaining the health of pets. Designed to be attached to the collar, the device lets owners monitor their pet's movements, activities, and fitness levels. The device includes a geofence feature for alerts if pets wander, and a Lost Dog Mode for real-time location updates. Additionally, integrated LEDs ensure visibility in the dark. The pet tracker is priced at $53. </p>
</div>

Petcube launches first dog-tracking wearable

<div>
 <p>Consumer electronics firm RCA has unveiled a range of audio, TV, and smart home products. The line-up incorporates Bluetooth-compatible audio devices and smart pet feeders. The pet feeders feature 1080p HD video and two-way audio, allowing remote interaction and feeding of pets. These devices can monitor feeding schedules and portion sizes via the RCA app and are priced from USD 79. RCA provides a variety of consumer electronics, now including smart pet care solutions.</p>
</div>

All Updates