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Pet Insurance Company Gets $4M Investment

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It’s ‘the first cloud-based pet insurance.’

HCS Capital Partners, a Miami-based private equity and operating firm, has made a $4 million investment in FIGO Pet Insurance.

Founded in 2015, FIGO describes itself as “the first cloud-based pet insurance.” It offers “a unique combination of comprehensive insurance policies to protect your pet in the event of injury or illness, as well as an industry-leading Pet Cloud.”

Pet Cloud “allows consumers to socially engage with fellow pet owners, find grooming and boarding locations, and discover other services within the pet ecosystem,” according to a press release.

FIGO CEO Rusty Sproat said, “Capitalizing on our current momentum, this investment and partnership will empower us to grow our business and continue to innovate our plans and technology.”

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HCS noted that the U.S. pet insurance market has nearly $1 billion in annual revenue and is growing at 10 percent per year.

HCS Capital CEO Alex Horvitz said, “We were very impressed by FIGO’s achievements, their vision and their ability to transform a low-touch low-tech product like pet insurance into a high tech ecosystem, with a superb digital experience. We are very excited about this investment and are convinced that the partnership with FIGO will allow us to support them in becoming the first fully digital and truly global pet insurance firm.”

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Pet Sustainability Coalition

Pet Sustainability Coalition Presents: Critical Sustainability Strategies for Retailers

This webinar, held on November 7, 2019, is the second in a series from PSC discussing how retailers can establish sustainable practices in their business. Moderated by PSC’s Andrea Czobor, the webinar unveils data behind the increasing consumer demand for sustainable products, what retailers have to gain from connecting with these purpose driven consumers, and a new PSC program that makes finding these products easier for retailers.

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State Considers Banning ‘No Pets’ Rental Listings

Some landlords are not happy about the proposed legislation.

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New Hampshire legislators are considering a ban on “no pets” notices in property listings.

Proposed legislation would forbid landlords and home sellers from barring pet owners, the Concord Monitor reports.

They could make rules related to pet deposits, noise control, sanitation and safety, according to the newspaper. But they could set make rules based on size, breed or appearance.

The legislation was proposed by state Rep. Ellen Read, a Democrat from Newmarket. It has drawn opposition from some landords who say it could lead to unsanitary conditions as well as allergy problems for some residents.

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But Julia Seeley, New Hampshire state director for the Humane Society, said her organization supports the bill.

We just strongly believe that a family should not be torn apart simply over housing,” she said.

Read more at the Concord Monitor

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Spotify Rolls Out Music Playlists for Pets

Pets seem to favor classical music and soft rock.

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Digital music service Spotify had a hunch that people were playing tunes for their pets.

A study by the company found that 71% of pet owners did exactly that. The survey included 5,000 music-streaming pet owners from the U.S., the UK, Australia, Spain and Italy.

The company explains:

That being said, we created a unique experience to help you craft the pawfect algorithmically generated playlist for you and your pet to enjoy together. Head to spotify.com/pets for a playlist you can share with your dog, cat, iguana, hamster, or bird.

See the graphic below for more details from the survey.

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These States Have the Most Dog and Cat Owners … And These States Have the Least

The US is home to almost as many domestic pets as humans.

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A new report looks at which U.S. states are the most pet-loving.

Seniorliving.org, a website devoted to providing information to seniors, delved into recent data from the American Veterinary Medical Association to create its rankings.

Idaho had the highest rate of households owning at least one dog, at 58.3%, according to the report, which excluded Alaska and Hawaii, which were not measured in the AVMA study. Dogs are least common in Washington, DC, where 22.5% of households have at least one.

Vermont ranked first for percentage of households with at least one cat, at 44.6%. DC, meanwhile, is the least cat-owning place, with just 16.4% of households being home to a cat.

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The U.S. is home to almost as many domestic pets as human beings. Almost 1 in 3 of those pets are fish, Seniorliving.org explains.

Cats and dogs combine for about 54.8% of all domestic pets.

 

 

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