Figo Pet Insurance, a Chicago, IL-based tech-driven pet insurance company, closed $4m in Series A funding.
Backers included unnamed private investors.
The company will use the capital to continue to advance and launch the platform and mobile app.
Led by Rusty Sproat, president and founder, Figo provides pet insurance plans, underwritten by the Markel Corporation, covering illness and injuries to dogs and cats, providing reimbursement for treatments administered by licensed veterinarians, ER hospitals, and specialists in the US, Canada, and Puerto Rico.
The company, a graduate of Chicago digital-startup facility 1871, also provides the Figo Pet Cloud, which allows customers to manage their pet’s life from any device via real-time pet GPS tracking, mobile records storage, social pet profiles, and finding nearby pet-friendly locations.
Customers receive comprehensive insurance coverage, as well as, mobile claims submission and complete account management via their mobile devices. New customers receive a Figo Pet Tag, featuring a trackable identification code that pets can wear on their collar. Once matched to their pet’s online profile, the tag identification code can assist owners in reconnecting with their pet in the event that they are lost.
Since launching in April 2015, the company has continued its nationwide rollout, expanding coverage to nearly all 50 states including Illinois, New York, California, and Florida.