Funding round
ManyPets Series D
ManyPets, which works in pet insurance plan services in London, raised $350M in a Series D round announced on 1 Jun 2021, led by EQT, at a $2.00B post-money valuation. 6 firms took part. It is ManyPets' fourth venture round on record; the one before was a Growth in May 2020.
$350M
Amount raised
$2.00B
Post-money valuation
$1.65B pre-money
6
Investors
1 lead
18%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced ManyPets at $2.00B after the new money. The $350M bought investors about 18% of the company. It came 13 months after ManyPets' Growth. It is 73% of the $477M ManyPets has raised in the venture rounds on record. No later venture round is on record for ManyPets.
ManyPets' funding rounds
ManyPets has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
EQT led the round with 5 other firms.
Lead investor
- EQT backs 99 venture-backed companies new investor
Also in the round
- Willoughby Capital new investor
- backs 62 venture-backed companies new investor
- backs 164 venture-backed companies new investor
- backs 31 venture-backed companies new investor
- Munich Re Ventures new investor
Joined the board: Carolina Brochado (EQT Growth).
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, acquisitions and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
13 Series D rounds in Insurance - Agents, Carriers & Brokers within a year either side disclosed an amount; the median was $175M, and this round was 2.0 times the median. The closest in time, other companies' Series D rounds in Insurance - Agents, Carriers & Brokers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Alan Insurance - Agents, Carriers & Brokers | 19 Apr 2021 | $222M | $1.68B | Coatue |
| Insurance - Agents, Carriers & Brokers | 13 Apr 2021 | $200M | not disclosed | Eldridge |
| Insurance - Agents, Carriers & Brokers | 12 Apr 2021 | $150M | $1.00B | Hedosophia |
| Coalition Insurance - Agents, Carriers & Brokers | 17 Mar 2021 | $175M | $1.75B | Index Ventures |
| Insurance - Agents, Carriers & Brokers | 18 Mar 2021 | $28M | not disclosed | AVP |
| Devoted Health Insurance - Agents, Carriers & Brokers | 8 Oct 2021 | $1.20B | $12.70B | not named |
| Insurance - Agents, Carriers & Brokers | 27 Oct 2021 | $255M | $1.10B | General Atlantic and Multiples |
| Insurance - Agents, Carriers & Brokers | 4 Oct 2021 | $100M | $900M | Thomvest Ventures and OMERS Private Equity |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did ManyPets raise in its Series D round?
ManyPets raised $350M in its Series D round, announced in Jun 2021.
Who led ManyPets' Series D round?
EQT led it, with Willoughby Capital, FTV Management Company, Octopus Ventures, CommerzVentures and Munich Re Ventures.
What was ManyPets' valuation at the Series D round?
$2.00B post-money ($1.65B pre-money).
How does it compare with other Series D rounds in Insurance - Agents, Carriers & Brokers?
13 Series D rounds in Insurance - Agents, Carriers & Brokers within a year either side disclosed an amount; the median was $175M, and this round was 2.0 times the median.