Australian pet e-tailer Pet Circle raises $125 million
This series C investment gives the largest Australian online pet retailer ‘unicorn’ status.
Over the past 18 months, Pet Circle has grown substantially. For example, it has seen a 50% increase in puppy and kitten food sales.
The goal of this investment round is to accelerate Pet Circle’s growth. It will increase its product offering, expand its warehouse footprint and continue to develop its software platform.
“In Australia you go into most pet businesses and they have between 100 SKUs or maybe the bigger one will have 5,000 SKUs, our range will triple, so we will have over 30,000 products,” says Pet Circle co-founder and CEO Michael Frizell.
Besides selling products, Pet Circle also offers vetChat and telehealth services:
“We are on a mission to reinvent the experience of pet ownership, by building an integrated platform that connects our customers to 24/7 vet advice and offers the largest and highest quality range of pet products and services in Australia,” says Pet Circle co-founder and CEO Michael Frizell.