About Destination Pet
Destination Pet is a company based in Highlands Ranch (United States) founded in 2016 by Thomas Wille was acquired by LetterOne in October 2019.. Destination Pet has raised $40.23 million across 3 funding rounds from investors including Opus Bank, Firmament and LetterOne. The company has 1,071 employees as of December 31, 2021. Destination Pet has completed 4 acquisitions, including Pawprints of Vero Beach, Pet Palace and Roscoes Bed Bark. Destination Pet offers products and services including Connected Care and Business Acquisition Service. Destination Pet operates in a competitive market with competitors including Pet Paradise, The Dog Stop, Thrive Pet Care, AKC and Cuddly Tails, among others.
- Headquarter Highlands Ranch, United States
- Employees 1071 as on 31 Dec, 2021
- Founders Thomas Wille
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Sectors
ConsumerBusiness Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$40.23 M (USD)
in 3 rounds
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Latest Funding Round
$30 M (USD), Series A
Oct 10, 2017
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Investors
Opus Bank
& 2 more
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Employee Count
1071
as on Dec 31, 2021
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Investments & Acquisitions
Pawprints of Vero Beach
& 3 more
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Acquired by
LetterOne
(Oct 28, 2019)
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Products & Services of Destination Pet
Destination Pet offers a comprehensive portfolio of products and services, including Connected Care and Business Acquisition Service. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Network for integrated pet care services and expert consultations
Facilitates sale of veterinary practices to new owners
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Funding Insights of Destination Pet
Destination Pet has successfully raised a total of $40.23M across 3 strategic funding rounds. The most recent funding activity was a Series A round of $30 million completed in October 2017. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series A — $30.0M
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First Round
First Round
(23 May 2017)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2017 | Amount | Debt – Conventional - Destination Pet | Valuation |
investors |
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| Oct, 2017 | Amount | Series A - Destination Pet | Valuation | Firmament | |
| May, 2017 | Amount | Series A - Destination Pet | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Destination Pet
Destination Pet has secured backing from 3 investors, including venture fund and institutional investors. Prominent investors backing the company include Opus Bank, Firmament and LetterOne. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Structured capital solutions are provided to small and medium-sized enterprises.
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Founded Year | Domain | Location | |
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LetterOne is engaged in long-term investments across key sectors.
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Founded Year | Domain | Location | |
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Commercial bank
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Destination Pet
Destination Pet has strategically engaged in corporate development activities, having acquired 4 companies. Notable acquisitions include Pawprints of Vero Beach, Pet Palace and Roscoes Bed Bark. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Dog daycare and overnight services are provided in Portland.
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2015 | ||||
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Pawprints of Vero Beach is operated as a luxury pet hotel and daycare.
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2006 | ||||
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Professional pet care services are provided to clients.
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2006 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
|
2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Destination Pet
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Destination Pet Comparisons
Competitors of Destination Pet
Destination Pet operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Pet Paradise, The Dog Stop, Thrive Pet Care, AKC and Cuddly Tails, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Provider of pet boarding, daycare, grooming, and veterinary services
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| domain | founded_year | HQ Location |
Dog care services including daycare, boarding, and grooming are provided.
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| domain | founded_year | HQ Location |
Online platform to book pet care services
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| domain | founded_year | HQ Location |
Registers dogs, hosts events, educates on health, and advocates for canine welfare.
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| domain | founded_year | HQ Location |
Multiple dog services are provided via an online marketplace platform.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Destination Pet
Frequently Asked Questions about Destination Pet
When was Destination Pet founded?
Destination Pet was founded in 2016 and raised its 1st funding round 1 year after it was founded.
Where is Destination Pet located?
Destination Pet is headquartered in Highlands Ranch, United States. It is registered at Highlands Ranch, Colorado, United States.
Is Destination Pet a funded company?
Destination Pet is a funded company, having raised a total of $40.23M across 3 funding rounds to date. The company's 1st funding round was a Series A of $10.23M, raised on May 23, 2017.
How many employees does Destination Pet have?
As of Dec 31, 2021, the latest employee count at Destination Pet is 1,071.
What does Destination Pet do?
Destination Pet was established in 2016 in Highlands Ranch, United States, as an online platform in the pet care sector. Pet owners are linked with service providers for veterinary care, overnight boarding, day care, grooming, training, and additional services. Operations focus on facilitating these connections digitally to support comprehensive pet needs across various categories.
Who are the top competitors of Destination Pet?
Destination Pet's top competitors include Pet Paradise, The Dog Stop and Thrive Pet Care.
What products or services does Destination Pet offer?
Destination Pet offers Connected Care and Business Acquisition Service.
How many acquisitions has Destination Pet made?
Destination Pet has made 4 acquisitions, including Pawprints of Vero Beach, Pet Palace, and Roscoes Bed Bark.
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