Tractive has been announced as the winner of the GlobalPETS Forum Award, an annual prize celebrating a company that has demonstrated exceptional performance.
Every year, judges consider hundreds of innovative and interesting pet companies to see who deserves to be recognized for their performance.
Four other nominees also had their eye on the prize this year: Kormotech, Laroy Group, Earth Rated and Vet Planet. Tractive came out on top, as the judges were impressed by its innovative product development, its customer centricity, and its success in the marketplace.
“This is a great honor for us,” says Michael Hurnaus, Tractive’s CEO and Co-Founder, after receiving the award at the GlobalPETS Forum 2024, which was celebrated last week in the Italian city of Venice.
Wellness, monitoring and health alerts
Tractive was founded in 2012 and has developed a way to satisfy pet parents’ two primary needs: knowing where their animals are and how they are doing.
Tractive devices offer 3 features that help pet parents keep their furry friends healthy: wellness scores, activity and sleep monitoring, and predictive health alerts to detect when your cat or dog is not feeling well. These features are possible thanks to the use of artificial intelligence (AI) and machine learning to detect health issues ahead of time.
The service has 1 million subscribers today, 90% of which have subscribed to the premium plan to monitor their dogs.
1 device, 1 subscription
This encapsulates the company’s ethos, where an innovative business model unfolds with a physical device complemented by a subscription plan. This unique approach allows pet parents to monitor their pets’ well-being, ensuring a seamless connection between cutting-edge technology and pet care.
At a time when pet parents scrutinize where they spend money, Tractive has made significant investments to enhance the value of its offerings.
From being mainly a GPS location tracker at the beginning of its journey in 2012, Tractive now offers a holistic health and safety device that provides automatic wellness information and health alerts.
Furthermore, the company has expanded its value proposition to provide more benefits to customers without a price increase.
Listening to the customer
In addition to its omnichannel selling strategy, the company has made great strides by investing in its product and making its customers the center of its operations.
Tractive has a team dedicated to “listening” to its clients through customer emails, customer support requests and feedback via review channels and product reviews.
The company has also adopted a no-distraction strategy, focusing solely on pet GPS tracking without investing time and money in scaling the product to other categories—such as tracking kids, cars, bicycles, or older people—even if it could have brought in more revenue. This pet-centered business strategy has paid off so far.
The latest articles
Supertails raises $15 million in Series B funding
The Indian start-up wants to gain more customers and enhance its offline business strategy.
Lyka Pet Food expands manufacturing capabilities to Victoria
The Australian pet food manufacturer aims to improve its logistics strategy.
From Symrise to Pets at Home: a new round of appointments in the pet industry
As many as 8 pet players have recently appointed top-level executives to their management teams. GlobalPETS takes a look.
Weekly newsletter to stay up-to-date
Discover what’s happening in the pet industry. Get the must-read stories and insights in your inbox.