Wagmo raises $3 million
Wagmo , the pet wellness company covering everyday care for dogs and cats, announced an “oversubscribed” $3 million seed round co-led by Harlem Capital and Vestigo Ventures, with participation from Female Founders Fund, Clocktower Technology Ventures, and The Fund. Several existing and angel investors, representing Flatiron Health, Clover Health and more, also participated in the round.
Founded by Christie Horvath and Ali Foxworth, Wagmo is helping pet parents get the best care for their dogs and cats by offering plans that cover the day-to-day essentials, including routine and preventative expenses such as annual exams, vaccines, and grooming. Wagmo offers three-tiered membership plans – Basic, Legit, and Extra – starting at $15/month. The plans are designed to deliver “immediate, tangible value” to customers nationwide by providing reimbursement for the things people already do to keep their pets healthy and happy. Wagmo doesn’t offer pet insurance that covers emergency and catastrophic care, and all plans require a 12-month commitment.
“We are a scrappy team of pet-obsessed, insurance nerds ready to change the status quo. Our pets’ wellness needs change over time and Wagmo is committed to continuously evolving to help pet parents get the best care for their pets. When my dog, Denver, started having debilitating seizures, I was hit with a new and very sincere appreciation for how challenging – and all-consuming – pet parenting can be. By covering the basics, we’re learning more about our customers’ wishes and pain points, and are able to proactively address the tenets of traditional pet insurance that simply aren’t working for today’s pet parents. With the support of our investors, we believe we are well-positioned to scale Wagmo and are very excited about the opportunities ahead.” – Christie Horvath, CEO and cofounder of Wagmo.
“Wagmo’s oversubscribed round is a testament to our belief that the company has the right team with critical insurance industry expertise, a unique distribution model, and a solid strategy to succeed. As a firm committed to investing in diverse founders, we believe Wagmo’s top-notch female founders are uniquely positioned to build a better pet wellness product. Wagmo has tapped into a critical opportunity within the fast-growing pet industry that traditional pet insurance providers have overlooked. We’re excited to see what successes are in store for them in 2020 and beyond.” – Jarrid Tingle, Managing Partner at Harlem Capital.
“Successful companies are built on the passion and drive of their founders – two characteristics we found in abundance with Christie Horvath and Ali Foxworth at Wagmo. Their desire to help pet owners find peace of mind in pet parenthood using innovative ways to reach and serve them is undeniable and positions them to disrupt the industry long-term. Given our firm’s orientation towards data-driven insights, we are equally excited by how Wagmo is using data science to improve the wellness and insurance process.” – Mark Casady, Founder and General Partner at Vestigo Ventures.
