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The global pet wearable market will reach US$2.36 billion by 2022. Brands see up to 295 percent more comments on pet related content on Instagram. Are pets the new black or just another bubble?
By 2017, pet owners are expected to spend more on wearable devices than on food and by 2020, rising the spending on pets by an extra 50 percent. Technologies like RFID, GPS and sensors enable various applications:
- Identification & tracking
- Behavior monitoring & control
- Facilitation, safety & security
- Medical diagnosis & treatment
Pet startups go beyond just wearables.
Embrace Pet Insurance raised US$4.5 million in funding to help people ensure their pets’ safety and healthcare. Read their story here.
Rover.com is an online community connecting dog owners with trusted dog sitters. The startup has raised US$66.9 million to date.
DogVacay (“AirBnB for dogs”) attracted US$47 million in venture capital, including Benchmark Capital, Foundation Capital and OMERS Ventures.
PawShake, similarly to Rover and DogVacay, allows you to find a trusted pet sitter in your community. They raised US$1.5 million in funding.
PetCube has raised US$3.7 million to provide Connected Pet at the intersection of Connected Home and Pet Care. Its first product, Petcube Camera, is an interactive pet camera that lets you see, talk to and play with your pets remotely from your smartphone.
“Disney for dogs. We’d like to reach every dog in America.”
These startups prove pets can be serious business. VCs hope for a “home-run” pet startup to return their investments, although everyone remembers the epic failure of Pets.com. The iconic example of the dot-com bubble era went from a listing in NASDAQ to shutdown in just 9 months. The site sold pet supplies and accessories online. But we still love Pets.com’s sock puppet ads.
Petlebrities more famous than the Kardashians
Pets boost branded content on Instagram
Pet marketing makes sense
How to integrate pets into branding
Conclusion
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