Connect with us

Technology

Cat-focused startup Meowtel has climbed to profitability despite struggling to raise capital from dog-focused VCs

Published

on

Cat-sitting startup Meowtel clawed its way to profitability despite trouble raising from dog-focused VCs

According to data, “Dogs” are the most well-liked pet within the US: 65.1 million households have them American Pet Products Association. But while cats aren’t far off, with 46.5 million of them in households, much of the innovation within the pet category has focused solely on dogs. And despite the fact that the service serves each species, it’s more focused on dogs.

Sonya Petcavich, founding father of the cat care app Meowtel, believes cats and kittens deserve more.

When Petcavich’s cat, Lily, died in 2015, she realized she won’t have been the most effective cat mom. Petcavich traveled extensively for her job in sales for Philip Morris and was not home as much as she thought her older cat might need. She knew pet sitting services existed, but didn’t think they provided enough for her feline friends.

“There is a need for a service specifically for people caring for cats; they have very different needs,” Petcavich told TechCrunch. “Rover had been around for just a few years and Wag was gaining momentum, but they were too dog-focused. I said, “Fuck it, I’ll be a crazy cat to do it.”

She took $100,000 of her own money, began a development team, and launched Meowtel in 2015. The startup is a marketplace where cat owners can find cat sitters and only employs individuals who have direct experience in things like giving cats medications (cats are particularly prone to chronic diseases as we age) and take care of cats with special needs. Potential caregivers undergo a rigorous six-step process before they’re approved to join the applying. This features a 30-minute chat with the Meowtel team to confirm that it’s an actual person, which other sit-down sites don’t do. Petcavich joked that it was easier to get into Harvard than to change into a Meowtel keeper.

Since its founding, the corporate has operated mainly in secret. Petcavich said the corporate has only come out of hiding now since the team has put in a whole lot of work during the last nine years, built its brand and got users’ experience where they wanted it to be.

Meowtel is profitable, with gross booking revenue growing 50% year-on-year. The company employs greater than 2,200 caregivers on the platform, a few of whom have been with Meowtel for nine years. The company has processed greater than 95,000 seat applications and has largely focused on larger cities, including New York and Los Angeles. He wants to expand his activities to smaller cities as well.

Meowtel has gotten to this point by raising almost $1 million in enterprise capital. Of that total, $500,000 got here from angels including Jason Calacanis’ Launch and Elizabeth Yin, general partner at Hustle Fund. Additional capital got here from accelerator programs including Tech Wildcatters and Sputnik ATX. The company’s last financing took place in 2020.

Petcavich said raising money from enterprise capitalists was difficult since the enterprise capital community is more focused on dogs and lots of people didn’t understand why cats needed their very own caregiver. Petcavich stated that she nonetheless wanted to raise enterprise funding for Meowtel due to its market-based business model, which she felt was an excellent fit for VC investors. Additionally, due to the capital-intensive nature of market-based businesses, she felt that VC funds would make essentially the most sense.

He’s right that there seem to be many more venture-backed firms specializing in dogs than cats. There are several startups focused on areas akin to higher pet food, accessories, and even those specializing in health. Butternut Box, a British pet food company, has raised over $466 million in VC funding. ImpriMed, a canine oncology startup, raised $23 million in November, and Fi, a wise dog collar, raised greater than $40 million in enterprise capital.

When it comes to cats, there are noticeably fewer of them. Smalls, a fresh pet food company, is considered one of the few venture-funded firms on this category. This raised $19 million last 12 months, and its founder Matthew Michaelson told TechCrunch’s Christine Hall that he believed innovation within the pet category had largely focused on dogs.

But does the market really want or have the capability to provide a cat-only sitting service? Petcavich says yes, and her company’s track record and growth trajectory seem to back it up.

“In the 2020 era, there is a brand that caters to every specific type of audience,” Petcavich said. “These species are different, but no one makes this distinction. I think it was the psyche of the cat owner and the medical needs of the cat itself that really opened up this blue ocean.”

This article was originally published on : techcrunch.com
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

US medical device giant Artivion says hackers stole files during a cybersecurity incident

Published

on

By

Artivion, a medical device company that produces implantable tissue for heart and vascular transplants, says its services have been “disrupted” resulting from a cybersecurity incident.

In 8-K filing In an interview with the SEC on Monday, Georgia-based Artivion, formerly CryoLife, said it became aware of a “cybersecurity incident” that involved the “compromise and encryption” of information on November 21. This suggests that the corporate was attacked by ransomware, but Artivion has not yet confirmed the character of the incident and didn’t immediately reply to TechCrunch’s questions. No major ransomware group has yet claimed responsibility for the attack.

Artivion said it took some systems offline in response to the cyberattack, which the corporate said caused “disruptions to certain ordering and shipping processes.”

Artivion, which reported third-quarter revenue of $95.8 million, said it didn’t expect the incident to have a material impact on the corporate’s funds.

This article was originally published on : techcrunch.com
Continue Reading

Technology

It’s a Raspberry Pi 5 in a keyboard and it’s called Raspberry Pi 500

Published

on

By

Manufacturer of single-board computers Raspberry Pi is updating its cute little computer keyboard device with higher specs. Named Raspberry Pi500This successor to the Raspberry Pi 400 is just as powerful as the present Raspberry Pi flagship, the Raspberry Pi 5. It is on the market for purchase now from Raspberry Pi resellers.

The Raspberry Pi 500 is the simplest method to start with the Raspberry Pi because it’s not as intimidating because the Raspberry Pi 5. When you take a look at the Raspberry Pi 500, you do not see any chipsets or PCBs (printed circuit boards). The Raspberry Pi is totally hidden in the familiar housing, the keyboard.

The idea with the Raspberry Pi 500 is you could connect a mouse and a display and you are able to go. If, for instance, you’ve got a relative who uses a very outdated computer with an outdated version of Windows, the Raspberry Pi 500 can easily replace the old PC tower for many computing tasks.

More importantly, this device brings us back to the roots of the Raspberry Pi. Raspberry Pi computers were originally intended for educational applications. Over time, technology enthusiasts and industrial customers began using single-board computers all over the place. (For example, when you’ve ever been to London Heathrow Airport, all of the departures and arrivals boards are there powered by Raspberry Pi.)

Raspberry Pi 500 draws inspiration from the roots of the Raspberry Pi Foundation, a non-profit organization. It’s the right first computer for college. In some ways, it’s a lot better than a Chromebook or iPad because it’s low cost and highly customizable, which inspires creative pondering.

The Raspberry Pi 500 comes with a 32GB SD card that comes pre-installed with Raspberry Pi OS, a Debian-based Linux distribution. It costs $90, which is a slight ($20) price increase over the Raspberry Pi 400.

Only UK and US keyboard variants will probably be available at launch. But versions with French, German, Italian, Japanese, Nordic and Spanish keyboard layouts will probably be available soon. And when you’re in search of a bundle that features all the things you would like, Raspberry Pi also offers a $120 desktop kit that features the Raspberry Pi 500, a mouse, a 27W USB-C power adapter, and a micro-HDMI to HDMI cable.

In other news, Raspberry Pi has announced one other recent thing: the Raspberry Pi monitor. It is a 15.6-inch 1080p monitor that’s priced at $100. Since there are quite a few 1080p portable monitors available on the market, this launch is not as noteworthy because the Pi 500. However, for die-hard Pi fans, there’s now also a Raspberry Pi-branded monitor option available.

Image credits:Raspberry Pi

This article was originally published on : techcrunch.com
Continue Reading

Technology

Apple Vision Pro may add support for PlayStation VR controllers

Published

on

By

Vision Pro headset

According to Apple, Apple desires to make its Vision Pro mixed reality device more attractive for gamers and game developers latest report from Bloomberg’s Mark Gurman.

The Vision Pro was presented more as a productivity and media consumption device than a tool geared toward gamers, due partly to its reliance on visual and hand controls moderately than a separate controller.

However, Apple may need gamers if it desires to expand the Vision Pro’s audience, especially since Gurman reports that lower than half one million units have been sold to this point. As such, the corporate has reportedly been in talks with Sony about adding support for PlayStation VR2 handheld controllers, and has also talked to developers about whether they may support the controllers of their games.

Offering more precise control, Apple may also make other forms of software available in Vision Pro, reminiscent of Final Cut Pro or Adobe Photoshop.

This article was originally published on : techcrunch.com
Continue Reading
Advertisement

OUR NEWSLETTER

Subscribe Us To Receive Our Latest News Directly In Your Inbox!

We don’t spam! Read our privacy policy for more info.

Trending