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· Posted on
February 21, 2024

Pet Circle becomes a unicorn after being thrown a juicy $125 million bone

Pet Circle is an Aussie online pet supplies company that's expanded into toys, health, grooming, clothes (and more).

What's the key learning?

  • Petcircle has just been thrown a juicy $125 million bone in the form of a capital raise...meaning the company is now valued at more than $1 billion (aka - they're a unicorn)
  • The company brought on new, valuable investors like US-based Prysm capital and Sydney-based TDM Growth Partners
  • For companies, investors should be used as advisers, mentors and experienced professionals.

Background: Pet Circle is an Aussie online pet supplies company that was founded back in 2011. It started off as online dog food business but expanded into toys, health, grooming, clothes (and more). 

What happened: This crew have just been thrown a juicy $125 million bone in the form of a capital raise...meaning the company is now valued at more than $1 billion (aka - they're a unicorn).

What else: The company brought on new, valuable investors like US-based Prysm capital and Sydney-based TDM Growth Partners.

So what's the key learning?

💡You often hear about product-market fit for the success of a company...but company-investor fit can be equally as important. 

💡Pet Circle's new investor, Prysm Capital, invested in US pet company Chewy.com back in 2016...which was acquired a year later for a huge US$3.35 billion. So it ain't Prysm's first pet-rodeo.

💡For companies, investors should be used as advisers, mentors and experienced professionals (rather than just a wad of cash). With Prysm backing Pet Circle...this crew could be set for big things.

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