Pet-sitting startup Rover, the world’s largest network of pet sitters and dog walkers, raises $155 million for global expansion

Do you know how big the pet care market is? The market size is $85 billion and growing. Rover is leader in this market. The company also the world’s largest network of pet sitters and dog walkers. Rover connects pet parents with the nation’s largest network of loving and trustworthy pet sitters and dog walkers. Through Rover, pet parents can discover, book, and manage personalized care for their dogs, including pet sitting, dog walking, in-home dog boarding, and doggy day care. Founded on the belief that everyone should have the opportunity to experience the unconditional love of a dog, Rover improves and simplifies life for pet parents and the dogs they love.

The company announced today that it has secured a $125 investment to continue global expansion, increase market share for on-demand walking and develop new services. The funding was led by T. Rowe Price Associates, Inc. and the closing of a $30 million credit facility with Silicon Valley Bank, bringing Rover’s available cash to over $200 million. Other key investors include Winslow Capital and Cross Creek. Existing shareholders TCV, Greenspring Associates and Spark Capital also participated. Rover will use the funding to expand internationally, increase share of market for its on-demand walking service, enhance its core offerings and introduce new service adjacencies.

Founded in 2011 by Greg Gottesman and Philip Kimmey, Rover is a leader in the $85 billion pet care market, redefining the way pet owners find and book care. As the industry continues to flourish, Rover will leverage its unique capabilities to harness and shape market demand.

“Rover is demonstrating that it can be a leading pet care provider, with a durable, robust, business model,” said Henry Ellenbogen, portfolio manager of T. Rowe Price New Horizons Fund. “We believe Rover can be a much larger company over time, and we look forward to working with the management team as they further innovate and grow the firm’s position in the industry.”

A substantial portion of this financing will be used to expand Rover’s service offerings into Europe — which represents 25 percent of the global pet care market — with plans to launch its services in the United Kingdom this July and additional European markets later this year.

“This funding round is an important milestone for Rover — we set out to build an enduring business that will fundamentally transform the pet care industry,” said Aaron Easterly, CEO of Rover. “We’re thrilled that such premier investors with a history of long-term investments are joining the Rover family.”

The company’s network of sitters and walkers has grown more than 100 percent year-over-year, now boasting over 200,000 sitters throughout North America. Rover currently employs more than 375 people in the U.S. with plans to increase its team by one-third by year’s end. In 2017, Rover acquired DogVacay and introduced its first-ever media campaign, “The Dog People,” to establish Rover’s brand as the definitive, trusted name in pet care.

Prior to this round, Rover raised $156 million in previous fundraising efforts. Existing Rover shareholders include A-Grade Investments, Foundry Group, Madrona Venture Group, Menlo Ventures, OMERS Ventures, Petco, and StepStone Group.