Companion Protect secures $47 million investment
The American pet insurance player will use the capital injection to improve customer experience.
Companion Protect, a Kansas City-based pet insurance and animal wellness company, has secured $20.25 million (€18.4M) in a Series A extension round.
The funding follows a $27 million (€24.5M) Series A funding that the company secured last year in a bid to “disrupt the pet health space and bring pet healthcare to the masses.”
The injection will be used to boost growth and enhance digital innovation to improve customer and agent experience.
“Additional investment reflects our investors’ confidence in the Companion Protect team to deliver customized pet healthcare solutions to our channel partners and their customers,” says Chuck Laue, Founder and CEO of Companion Protect.
Both investment rounds have been led by venture capital firms Avanta Ventures, Liberty Mutual Insurance, Old Republic International Corporation and Stray Dog Enterprises.
Companion Protect has launched pet healthcare programs for insurance companies like Liberty Mutual, Safeco and CSAA Insurance Group. According to a company statement, it has contracted with a top player to launch a new pattern insurance program soon.
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