CHICAGO, IL, Leading e-commerce site for pet product discovery, announced the closing of its Series A financing led by Origin Ventures.
doggyloot, the leading e-commerce site for pet product discovery, announced the closing of its Series A financing led by Origin Ventures with continued participation fromSandbox Industries via its Sandbox Advantage Fund. The total amount of financing is $2.5 million.
Founded in February 2011, doggyloot is the go-to site for dog owners to spoil their pups by discovering high quality, curated pet products at a great price. Customers simply sign up to receive daily emails so they can discover brand new products each day. doggyloot also offers many top selling products on a subscription basis, making the buying process simple for customers. All doggyloot orders include free shipping.
'This funding round represents a great vote of confidence, and we are now well-positioned to change the way even more dog lovers discover and receive pet products,' says Jeff Eckerling, CEO of doggyloot. 'We are very excited to have these investors involved to help guide the growth of our business.'
According to the American Pet Product Association (APPA), 56.7 million U.S. households own a dog, with an estimated $55 billion being spent on pets in 2013. This amount spent on pets has doubled since 2000.
'doggyloot's market potential is huge, and our financial investment in the business demonstrates our belief that it will be the leader in the online pet product category,' said Brent Hill, Partner at Origin Ventures. 'doggyloot has significant traction, with about 700,000 active subscribers and tens of thousands of products delivered to happy dog owners each month.'
'Since its inception, doggyloot has been committed to helping dog owners keep their pups happy in an easy, affordable way,' said Sandbox Industries Founder and Managing Director Nick Rosa. 'I've been involved with the business since day one and have loved watching it grow. I'm excited for Origin's participation to help the business moving forward.'
doggyloot will use the proceeds of this financing for key hires in technology and operations, as well as marketing.
About doggyloot
doggyloot is the leading pet e-commerce site that helps dog owners discover and receive chews, toys, treats and more at great prices. For more information, visit
www.doggyloot.com.
About Sandbox Industries
Sandbox Industries is a Chicago-based venture capital firm and startup foundry that builds and grows new businesses internally. Sandbox has founded Marbles: The Brain Store
(www.marblesthebrainstore.com),Lab42 (www.lab42.com) and doggyloot (
www.doggyloot.com).
For more information, visit www.sandboxindustries.com.
About Origin Ventures
Origin Ventures, which recently launched its $45 million Fund III, is an early stage venture capital firm based in Northbrook, IL with additional offices in Chicago, IL. The firm was co-founded by Steve Miller and Bruce Barron in 1999, and Brent Hill joined as a Partner in January 2013. Previous investments include iNest (sold to IAC), GrubHub, Shoutlet, ifbyphone, and Campus Explorer. For more information, visitwww.originventures.com.
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