Rover.com, a Seattle, WA-based network of pet sitters and dog walkers, taised $155m in equity and debt funding.
The round included:
– a $125m equity round led by funds and accounts advised by T. Rowe Price Associates, with participation from Winslow Capital and Cross Creek and existing shareholders TCV, Greenspring Associates and Spark Capital, and
– a $30m credit facility with Silicon Valley Bank.
The company will use the funds to expand internationally, increase share of market for its on-demand walking service, enhance its core offerings and introduce new service adjacencies. A substantial part of this financing will be used to expand Rover’s service offerings into Europe with plans to launch its services in the United Kingdom this July and additional European markets later this year.
Led by Aaron Easterly, CEO, Rover connects dog owners with pet care, including pet sitting, dog walking, in-home dog boarding, and doggy day care.
The service offers the Rover Guarantee, 24/7 support, background checks, vet consultations, GPS walk tracking, and a pet sitting and dog walking app.
Rover, which recently acquired DogVacay, currently employs more than 375 people in the U.S. while its network now boasts over 200,000 sitters throughout North America. Prior to this round, the company had raised $156m.