As Rover’s international influence grows, it’s the first time the Seattle-based company invested not only in Brazil but also Latin America. Mexican VC firm, IGNIA Partners, also contributed in hopes of expanding service across the region.
Who is DogHero?
Known as the “Brazilian Airbnb for pet-sitting,” DogHero is a marketplace for pet owners based in Sao Paulo, Brazil. Kaszek Ventures previously helped the startup raise seed capital after it launched in 2014, followed by US$3.1 million in funding from monashees.
Over the last five years, DogHero has raised around US$13 million while securing a staff of 58. Approximately 800,000 pets plus 16,000 hosts and walkers belong to DogHero’s network. Today, the startup operates in 750 cities in Brazil, Argentina, plus Mexico.
From the sound of it, DogHero’s co-founder is elated to collaborate with Rover.
“We’ve always looked up to Rover,” said Eduardo Baer to GeekWire. “Since the beginning, we’ve admired the company.”
Who is Rover?
Rover is one of Seattle’s most valuable startups with 475 employees, new headquarters, as well as booming business in Europe and potentially Latin America. With more visibility in the area, the U.S. startup aspires to become the “global leader in the pet care space.”
We see this investment as a way to come and learn more about what it takes to operate in the Latin American market.
Last year, Rover expanded to Europe where it acquired British dog care company, DogBuddy. Over the company’s lifespan, Rover has raised US$310 million. New funds have been used to obtain new companies, such as DogBuddy in addition to DogVacay.
Why Latin America?
Current estimates put the number of dogs in Latin America to be around 100 million, according to Rover. There are over 52 million canines in Brazil alone, putting the Portuguese-speaking country in second place after the United States.
Between veterinary care, grooming and other necessities such as food or medication, Brazilians spend an accumulative US$8.17 billion on their pets.
Not only do these figures make Brazil an ideal location for our animal friends but also the emergent marketplace. At the same rate, recent investments will allow DogHero to launch in more cities.