Funding round
ManyPets Series B
ManyPets, which works in pet insurance plan services in London, raised $20M in a Series B round announced on 19 Jul 2018, led by CommerzVentures. 2 firms took part. It is ManyPets' second venture round on record; the one before was a Series A in Oct 2016.
$20M
Amount raised
15,000,000 GBP converted
Not disclosed
Post-money valuation
2
Investors
1 lead
Valuation
What this round says about the price
ManyPets did not disclose a valuation in this round. It came 21 months after ManyPets' Series A. It is 4.1% of the $477M ManyPets has raised in the venture rounds on record. ManyPets raised again 22 months later: a Growth round of $98M in May 2020. Its next priced round, a Series D in Jun 2021, valued it at $2.00B.
ManyPets' funding rounds
ManyPets has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
CommerzVentures led the round with 1 other firm.
Lead investor
- backs 31 venture-backed companies
Also in the round
Use of proceeds
What the money is for
According to the announcement, the money goes to product development and geographic expansion.
- Product development
- Geographic expansion
Comparable rounds
How it compares
22 Series B rounds in Insurance - Agents, Carriers & Brokers within a year either side disclosed an amount; the median was $29M, and this round was 69% of the median. The closest in time, other companies' Series B rounds in Insurance - Agents, Carriers & Brokers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Insurance - Agents, Carriers & Brokers | 11 Jul 2018 | $83M | not disclosed | Redpoint Ventures |
| Insurance - Agents, Carriers & Brokers | 26 May 2018 | $12M | not disclosed | Amazon |
| Devoted Health Insurance - Agents, Carriers & Brokers | 16 Oct 2018 | $300M | not disclosed | Andreessen Horowitz |
| Insurance - Agents, Carriers & Brokers | 25 Apr 2018 | $29M | not disclosed | Portage Ventures and White Star Capital |
| Insurance - Agents, Carriers & Brokers | 24 Apr 2018 | $29M | not disclosed | Portage Ventures and White Star Capital |
| Insurance - Agents, Carriers & Brokers | 14 Mar 2018 | $4.0M | not disclosed | HCS Capital |
| Insurance - Agents, Carriers & Brokers | 22 Jan 2019 | $43M | not disclosed | Cox Enterprises |
| Insurance - Agents, Carriers & Brokers | 10 Jan 2018 | $30M | not disclosed | RRE |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did ManyPets raise in its Series B round?
ManyPets raised $20M in its Series B round, announced in Jul 2018.
Who led ManyPets' Series B round?
CommerzVentures led it, with B.P. Marsh.
What was ManyPets' valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Insurance - Agents, Carriers & Brokers?
22 Series B rounds in Insurance - Agents, Carriers & Brokers within a year either side disclosed an amount; the median was $29M, and this round was 69% of the median.
Did ManyPets raise again after this round?
Yes: a Growth round in May 2020 of $98M.