Steven Mendel is stepping down

Many Group, the parent company of pet insurance startup ManyPets, announced that group CEO and cofounder Steven Mendel has decided to leave the company in mid-April. Mendel will be replaced by Luisa Barile, formerly CFO and current ManyPets UK CEO.

Mendel and Guy Farley started Bought By Many, now ManyPets, in 2012. Mendel led the business to a pivot into pet insurance in 2017. The startup raised $483 million in funding and was last valued at $2 billion.

“After twelve years leading our business, from its beginning as a market-challenging start-up to the major pet insurance brand that it is today, it is time for me to step aside. Businesses need change – change of perspective and style, and we are no different from that. And I too feel like I need a change. I am honored to have driven ManyPets to become the ground-breaking business that it is today – one which has led the market in insurance product design and technology use. From pre-existing cover and moneyback, to being the first in the UK to make free video vet appointments part of all policies, ManyPets has played an important part in transforming pet insurance for the better. Businesses need different leaders at different stages and so it is time for a change. For me, I am looking forward to my next challenge, at the same time I am pleased to pass the leadership baton to Luisa who will, I am confident, capably lead Many Group as it continues to grow from strength to strength. While I will be bidding farewell to the day-to-day operations of ManyPets, this is not goodbye. I’ll remain very much connected to the business in the role of a Non-Executive Director on our Board.” – Steven Mendel.

“It’s been an honor working with Steven these past six years. The company he and Guy started is truly impressive and seeing it grow has been extraordinary. I am pleased to be able to continue to tap into Steven’s experience and support as he remains involved in the business from a Board perspective. Looking to the future, as the new Group CEO, I am confident that ManyPets is headed in the right direction with a solid plan that builds on the clear success of the past.” – Luisa Barile.