SAN FRANCISCO — Pet wellness platform Antelope has acquired Doggo, a digital pet insurance provider.
“Antelope is on a mission to build a one-stop shop full of best-in-class products and services for pet owners,” said Wendy Wen, CEO of Antelope. “With pet insurance becoming an increasingly important part of the pet ecosystem, Doggo’s user-friendly and scalable product makes them the perfect next partner for Antelope.”
Financial terms of the deal were not disclosed.
Antelope was founded by Wendy Wen in partnership with Alpine Investors, a private equity firm that invests in software, business services and consumer services businesses.
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Doggo was founded by Patty Li in 2018 and has grown into a nationwide digital insurance provider for dogs and cats. Patty was inspired to create Doggo after her best friend’s dog, Ody, developed cancer. Her friend, an elementary school teacher, took a second job to pay for Ody’s chemotherapy and spent thousands on his care. At the time, Patty was an executive at Uber and had started a team that was using technology and data to drive rapid adoption of Uber’s new products. After seeing her friend’s harrowing experience, she and a team of ex-Uber colleagues started Doggo, bringing a similar customer-centric and data-driven approach to help people better protect their dogs.
Pet insurance has become a critical part of the pet industry. Today, only 2% of U.S. pet owners carry insurance for their pets. However, the market has experienced rapid growth as tailwinds from COVID pet adoptions and the trend towards pet “humanization” have created a customer base that is increasingly considering and purchasing pet insurance. The need for a user-friendly insurance platform for pet owners drove an annual increase of 25% in 2021.
“Antelope is on a mission to build a one-stop shop full of best-in-class products and services for pet owners. With pet insurance becoming an increasingly important part of the pet ecosystem, Doggo’s user-friendly and scalable product makes them the perfect next partner for Antelope,” said Wendy Wen, Founder and CEO of pet platform, Antelope. “We’re so excited to welcome both Doggo and Patty into the Antelope team.”
Antelope and Alpine’s investment will enable Doggo to focus on its direct-to-consumer strategy including marketing, branding, and subscriber growth. Doggo will leverage Wendy’s extensive expertise in omni-channel consumer marketing and user acquisition to scale and grow alongside the other brands within Antelope, such as the all-natural pet treats brand, Bocce’s Bakery. Doggo will continue to operate under its brand name within Antelope, with Patty joining the board of Antelope.
“Antelope’s vision of creating a sustainable and comprehensive pet brand, paired with Wendy’s expertise in marketing and branding, makes us so excited for this partnership,” said Patty, Founder of Doggo. “Doggo was founded to create an easy and user-friendly insurance platform for pet lovers like myself and we are so excited to continue this mission with the support of Antelope and Alpine.”
Antelope was launched by Alpine Investors (“Alpine”) and Founder and CEO, Wendy Wen, with the mission to build a next-generation conglomerate of high-quality natural pet brands. Wendy was previously the Co-Founder and COO of SENREVE, a digitally-native, omni-channel luxury handbag brand, where she’d built the business from the ground up to a globally recognized name.”
About Antelope
Antelope was founded in August 2021 with the mission to elevate the lives of all pets delivering the highest quality pet products and services via a buy and build strategy. “Ante” means to increase the stakes or consideration of, and “lope” means to leap with bounding steps. Together, Antelope will be setting higher goals and standards for pet products and services worldwide. Business owners interested in learning more about partnerships with Antelope should contact Tyler Frances at tfrances@alpineinvestors.com. To learn more, visit: https://www.antelopepets.com/
About Alpine Investors
Alpine Investors is a people-driven private equity firm that is committed to building enduring companies by working with, learning from, and developing exceptional people. Alpine specializes in investments in companies in the software and services industries. Its PeopleFirst strategy includes a CEO program which allows Alpine to bring leadership to situations where additional or new management is needed post-transaction. Alpine is currently investing out of its $2.25 billion eighth fund. For more information, visit http://www.alpineinvestors.com.
About Doggo
Doggo Insurance is now available in all 50 states and is in partnership with Crum & Forster, one of America’s oldest and most established pet insurance providers. Doggo Pet Insurance plans are underwritten by United States Fire Insurance Company. Insurance plans are produced and marketed by Algo Technologies, Inc. d/b/a Doggo (NPN # 19332914). Pre-existing conditions are not covered. Waiting periods, annual deductible, co-insurance, benefit limits and exclusions may apply. For all terms and conditions visit trydoggo.com/sample.
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