Funding round
ManyPets Growth
Reported as "Growth Equity"
ManyPets, which works in pet insurance plan services in London, raised $98M in a Growth round announced on 5 May 2020, led by FTV Management Company. 4 firms took part, 4 of them already investors. It is ManyPets' third venture round on record; the one before was a Series B in Jul 2018.
$98M
Amount raised
78,400,000 GBP converted
Not disclosed
Post-money valuation
4
Investors
1 lead
Valuation
What this round says about the price
ManyPets did not disclose a valuation in this round. It came 22 months after ManyPets' Series B. It is 20% of the $477M ManyPets has raised in the venture rounds on record. ManyPets raised again 13 months later: a Series D round of $350M in Jun 2021, at $2.00B post-money.
ManyPets' funding rounds
ManyPets has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
FTV Management Company led the round with 3 other firms. FTV Management Company, CommerzVentures, Munich Re Ventures and Octopus Ventures had backed ManyPets before.
Lead investor
- backs 62 venture-backed companies existing investor
Also in the round
- backs 31 venture-backed companies existing investor
- Munich Re Ventures existing investor
- backs 164 venture-backed companies existing investor
Joined the board: Mike Vostrizansky (FTV Capital).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
15 Growth rounds in Insurance - Agents, Carriers & Brokers within a year either side disclosed an amount; the median was $100M, and this round was close to the median. The closest in time, other companies' Growth rounds in Insurance - Agents, Carriers & Brokers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Insurance - Agents, Carriers & Brokers | 22 Jul 2020 | undisclosed | not disclosed | Parthenon Capital |
| Insurance - Agents, Carriers & Brokers | 30 Sep 2020 | $1.50B | $5.00B | Hg |
| Insurance - Agents, Carriers & Brokers | 30 Sep 2020 | $1.50B | $5.00B | not named |
| Ki Insurance Insurance - Agents, Carriers & Brokers | 17 Sep 2020 | $500M | not disclosed | Blackstone |
| Insurance - Agents, Carriers & Brokers | 23 Oct 2020 | $100M | $500M | Founders Fund and Meritech Capital |
| Insurance - Agents, Carriers & Brokers | 23 Nov 2020 | $800M | not disclosed | not named |
| Insurance - Agents, Carriers & Brokers | 1 Nov 2020 | $500M | not disclosed | not named |
| Insurance - Agents, Carriers & Brokers | 27 Nov 2019 | $36M | $258M | not named |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did ManyPets raise in its Growth round?
ManyPets raised $98M in its Growth round, announced in May 2020.
Who led ManyPets' Growth round?
FTV Management Company led it, with CommerzVentures, Munich Re Ventures and Octopus Ventures.
What was ManyPets' valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Insurance - Agents, Carriers & Brokers?
15 Growth rounds in Insurance - Agents, Carriers & Brokers within a year either side disclosed an amount; the median was $100M, and this round was close to the median.
Did ManyPets raise again after this round?
Yes: a Series D round in Jun 2021 of $350M at $2.00B post-money.