About Independence Pet Group
Independence Pet Group is a company based in Jacksonville (United States) founded in 2021.. Independence Pet Group has raised $66.94 million across 2 funding rounds. The company has 116 employees as of December 31, 2021. Independence Pet Group has completed 1 acquisition, including Felix Cat Insurance. Independence Pet Group offers products and services including Pet Insurance, Underwriting Options, and Turnkey Partner Solutions. Independence Pet Group operates in a competitive market with competitors including Trupanion, Pet Assure, PetPartners, Independence American and Berkley Equine, among others.
- Headquarter Jacksonville, United States
- Employees 116 as on 31 Dec, 2021
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Sectors
Financial Services
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Phone
*********
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Website
*********
- Legal Name Independence Pet Group, Inc
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$66.94 M (USD)
in 2 rounds
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Latest Funding Round
$55.59 M (USD), Series C
Oct 31, 2023
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Investors
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Employee Count
116
as on Dec 31, 2021
- Investments & Acquisitions
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Products & Services of Independence Pet Group
Independence Pet Group offers a comprehensive portfolio of products and services, including Pet Insurance, Underwriting Options, and Turnkey Partner Solutions. 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.
Offers coverage for pets to support health and well-being.
Provides customized insurance underwriting for pet parents.
Delivers partner-focused insurance products and support services.
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Software Development Team
33 people
Human Resources and Administration
10 people
Sales and Marketing
9 people
Legal and Compliance
9 people
Leadership Team
7 people
Data Analysis and Operations Team
6 people
Product Management Team
5 people
Creative and Marketing Team
5 people
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Funding Insights of Independence Pet Group
Independence Pet Group has successfully raised a total of $66.94M across 2 strategic funding rounds. The most recent funding activity was a Series C round of $55.59 million completed in October 2023. 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 2
- Last Round Series C — $55.6M
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First Round
First Round
(15 May 2023)
- Investors Count Investors Count
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2023 | Amount | Series C - Independence Pet Group | Valuation |
investors |
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| May, 2023 | Amount | Series B - Independence Pet Group | Valuation |
investors |
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| 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 |
Investments & Acquisitions by Independence Pet Group
Independence Pet Group has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Felix Cat Insurance. 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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Cat insurance policies are provided for coverage of feline pets.
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2020 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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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 - Independence Pet Group
| 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 |
Independence Pet Group Comparisons
Competitors of Independence Pet Group
Independence Pet Group 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 Trupanion, Pet Assure, PetPartners, Independence American and Berkley Equine, 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 |
Medical insurance for pets is offered by Trupanion.
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| domain | founded_year | HQ Location |
Offers veterinary discount plans for routine, emergency, and wellness pet care services.
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| domain | founded_year | HQ Location |
Pet insurance company
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| domain | founded_year | HQ Location |
Health and pet insurance services are provided nationwide.
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| domain | founded_year | HQ Location |
Offers insurance products for horses, cattle, farms, and related liabilities.
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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 Independence Pet Group
Frequently Asked Questions about Independence Pet Group
When was Independence Pet Group founded?
Independence Pet Group was founded in 2021 and raised its 1st funding round 2 years after it was founded.
Where is Independence Pet Group located?
Independence Pet Group is headquartered in Jacksonville, United States.
Is Independence Pet Group a funded company?
Independence Pet Group is a funded company, having raised a total of $66.94M across 2 funding rounds to date. The company's 1st funding round was a Series B of $11.35M, raised on May 15, 2023.
How many employees does Independence Pet Group have?
As of Dec 31, 2021, the latest employee count at Independence Pet Group is 116.
What does Independence Pet Group do?
Independence Pet Group was established in 2021 in Jacksonville, United States. Operations are centered in the pet insurance sector, where policies are offered to mitigate costs associated with pet healthcare. Services include coverage for accidents, illnesses, and routine care, tailored to various pet types. The company manages insurance programs through its domain, independencepetgroup.com, serving clients primarily in the domestic market.
Who are the top competitors of Independence Pet Group?
Independence Pet Group's top competitors include Trupanion, Independence American and PetPartners.
What products or services does Independence Pet Group offer?
Independence Pet Group offers Pet Insurance, Underwriting Options, and Turnkey Partner Solutions.
How many acquisitions has Independence Pet Group made?
Independence Pet Group has made 1 acquisition, including Felix Cat Insurance.