PetPartner is changing the way we manage our pet's healthcare. We promote better pet health by helping vets and groomers connect with their clients through a native app and reminder system. Based on customer data, pet care visits have been steadily declining and we estimate that 40% of pets don't get the annual care and vaccines they need. We're determined to solve this huge problem in the pet care space.
To do this, we integrate with the pet care providers' practice management system and reach clients across all channels - from postcards to email to a free app. We send reminders for appointments, annual check ups, vaccines, and more. We make it easy to both request and confirm appointments 24/7 - without a phone call. We're now bringing on other partners to offer food, drugs, insurance, and more through that same channel. The next step is taking payment in the app for products and services to realize our vision of being the go-to app for pet owners.
Since launching in January of 2014 we've consistently grown and as of October 2015 we have grown 736% year-over-year. During that time we've also steadily increased our annual revenue per location from under $50/mo to over $250/mo. We've done this with a heavy focus on customer support and we're averaging a 99.4% monthly recurring revenue retention rate.
We (Ken and Taylor) met 10 years ago working at a top nanotechnology firm. After spending our 20s growing/managing that business until it was sold, we decided to start our own. So 2 years ago we listened to a very smart veterinarian (my uncle) explain the pet industry to us and the current problems with pet care. With each of our Shih Tzus as consultants we had found our calling - PetPartner App.
We saw a convergence in the pet space. Technologically underserved businesses, a microcosm of the larger service industry, good budgets, a customer retention need, and potential clients like us - crazy pet parents. Our vet and grooming advisers saw the transition of their clients from pet owners to pet parents. Their relationship was now much more personal, and with mobile being the most personal technology we felt that's where we could make the biggest impact.
After alpha testing with 10 clinics, beta testing with 30, and then launching into the market, we quickly realized we had something. We then brought in Drew Davies who had founded TakeLessons in San Diego and helped scale that company. Drew helped us improve our sales process and help set the company up for our current scaling phase.
Frequently Asked Questions
When you complete your investment on SeedInvest, your money will be transferred to an escrow account where an independent escrow agent will watch over your investment until it is accepted by PetPartner App. Once PetPartner App accepts your investment, and certain regulatory procedures are completed, your money will be transferred from the escrow account to PetPartner App in exchange for your shares. At that point, you will be a proud owner in PetPartner App.
Preferred equity is usually issued to outside investors and carries rights and conditions that are different from that of common stock. For example, preferred equity may include rights that prevent or minimize the effects of dilution or grants special privileges in situations when the company is sold.
A convertible note is a unique form of debt that converts into equity, usually in conjunction with a future financing round. The investor effectively loans money to a startup with the expectation that they will receive equity in the company in the future at a discounted price per share when the company raises its next round of financing.
To learn more about startup investment types check out “How to Choose a Startup Investment” in our academy.
To make an investment, you will need the following information readily available:
- Personal information such as your current address and phone number
- Employment and employer information
- Net worth and income information
- Social Security Number or government-issued identification
- ABA bank routing number and checking account number (typically found on a personal check or bank statement)
Because PetPartner App is offering its securities under Rule 506(c) of Regulation D, your status as an Accredited Investor will also need to be verified and you will be asked to provide documentation supporting your income, net worth, revenue, or net assets or a letter from a qualified advisor such as a Registered Investment Advisor, Registered Broker Dealer, Lawyer, or CPA.
Until a closing occurs, you may cancel your investment at any time, for any reason. You will receive an email when the closing occurs and your shares have been issued. If you have already funded your investment and your funds are in escrow, your funds will be promptly refunded to you upon cancellation. To cancel your investment, please go to your portfolio page.
Currently there is no market or liquidity for these shares. Right now PetPartner App does not plan to list these shares on a national exchange or another secondary market. At some point PetPartner App may choose to do so, but until then you should plan to hold your investment for a significant period of time before a “liquidation event” occurs. A “liquidation event” is when PetPartner App either lists their shares on an exchange, is acquired, or goes bankrupt.
You can return to SeedInvest at any time to view your portfolio of investments and obtain a summary statement.
This is PetPartner App's fundraising profile page, where you can find information that may be helpful for you to make an investment decision in their company. The information on this page includes the company overview, team bios, and the risks and disclosures related to this investment opportunity.
This investment is highly speculative and should not be made by anyone who cannot afford to risk the entire investment amount. In addition to these risks, you should carefully consider the specific information and risks disclosed in PetPartner App’s profile.