With their expansion in Europe well underway and new technology in the works, Seattle graduate, PetHub announced they have secured $375,000 of a $750,000 round. The recent funding is being led by Rudy Gadre, a former Facebook general counsel and Amazon executive, as well as the angel investor network Zino Society, which awarded the startup $50,000 after it won the Zino Marketplace Competition.
John Cook of GeekWire covered the story in the article "PetHub scores cash to make sure Fido, Rover, and Spot never go missing again".
Through the use of QR code imprinted identification tags, PetHub enables lost pets to get home faster than ever before. Founder, Tom Arnold describes the service as a “Facebook for Pets”, as registered animals are linked to a database with their online profile. Through the use of PetHub’s patented technology, lost pets carry with them critical information, including multiple contact numbers and pet health data.
The subscription based service has taken off recently, and is in the process of expanding to select cities in Europe and additional locations in the United States. They are also in the process of developing new technology, including new software services, which they plan to debut next month.
PetHub is a graduate of the Seattle Founder Institute and was a finalist at the 9th Founder Showcase. After pitching at the March 2012 Showcase, they raised a $1.3mm round to fuel their initial growth. The 6 person company has raised $1.5 million to date and according to Arnold, will break even by the end of this year.