PetFlow.com Raises $10M

PetFlow.com, the online store specializing in pet needs and product delivery, has raised $10 millino from investors including Lightspeed Venture Partners, the startup announced. Juistin Caldbeck, managing director with Lightspeed, worked on the transaction for the VC.

PRESS RELEASE:

New York (July 6, 2011) – PetFlow.com, the online store that delivers all of your pet’s needs on a schedule that you choose, announced today that it has raised $10 million in its series B round of financing. The latest round was led by Lightspeed Venture Partners, a leading venture capital firm with over $2 billion in capital under management. The new round of funding will be used to grow PetFlow.com’s infrastructure, create new jobs and strengthen its marketing efforts.
PetFlow.com was founded for a very simple reason – to ensure that you never run out of pet food again. PetFlow.com’s “auto-replenishment” system allows its customers to save time and money through the convenience of automatic delivery, where they can receive orders for their favorite brand of pet food and supplies every two to 16 weeks, or at the frequency of their choosing.
PetFlow.com also offers a premium selection of health-conscious, high-quality pet food brands that have previously been available only in regional or local specialty stores. The company’s breadth of products help set it apart from large-scale retailers such as PetCo and Petsmart.
“Fuel prices are stratospheric, bags of pet food can be backbreaking and running to the store is always a hassle”, said Alex Zhardanovsky, co-founder of PetFlow.com. “Because of this, PetFlow.com’s unique delivery service has won favor with thousands of pet owners in a very short amount of time. With Lightspeed as our investment partner, PetFlow.com is now perfectly positioned to disrupt this huge market.”
“Most pet food today is bought by women, who have to haul 40 pound bags of dog food from the store to their car, and then from their car to their home. It’s heavy, it’s expensive, and sometimes they run out unexpectedly with little time to run to the store and buy more. That’s a bad user experience, and it makes no sense given the evolution of e-commerce,” said Juistin Caldbeck, managing director of Lightspeed Venture Partners. “When we met Alex and Joe, two world-class entrepreneurs who have built $100M+ web businesses in the past, they showed us the momentum that they’ve generated at Petflow, and we knew that they had found a better way. Our funding will turbo charge their growth as it did for our other e-commerce portfolio companies such as Living Social, Blue Nile, Bonobos, and Shoedazzle.”
Founded in early 2010, PetFlow.com features more than 100 health-conscious pet supply brands for customers to choose from and is already shipping more than 500,000 pounds of pet food per month to pet owners across America.