LOS ANGELES, March 7, 2024 /PRNewswire/ — MoeGo, the leading software platform for pet care businesses, announced today that it has closed a $24 million Series A funding round. The investment was led by Base10 Partners, with participation from Mars Petcare’s Digitalis Ventures, alongside continued support from MoeGo’s existing investors Conductive Ventures and Uphonest Capital. The company will use the funding to substantially expand its team and product to serve its growing customer base.
Through its full-suite business-in-a-box platform, MoeGo empowers pet care businesses to do all aspects of their job better, by streamlining operations, improving customer service, and growing their business. Founded in late 2019 by Ethan Dong, MoeGo was started with a vision to reshape the technology infrastructure of the pet economy. Pet ownership in the U.S. reached 70% of households in 2020, representing an estimated 90 million dogs alone. The overall pet care market is expected to be worth $277 billion by 2030, which is more than double its 2019 size.
MoeGo has secured $24 million in Series A funding, featuring prominent investors including Base10 Partners.
“The accelerated growth in demand for pet-related services poses operational challenges for pet care businesses, and the technology supporting these businesses remains outdated,” said Ethan Dong, MoeGo founder and CEO. “A seismic shift is underway as digitally-native pet parents and entrepreneurs increasingly influence this space, creating a pressing need for modern software like MoeGo.”
Ethan attributes MoeGo’s 100%+ year-over-year organic growth since inception and high satisfaction from its 4,500 customer businesses to his team’s unwavering dedication to building high-quality software and providing best-in-class support. In just three years, MoeGo has been able to attract the best businesses in the pet care space including enterprise and franchise clients through its enterprise-grade, all-in-one solution. These purpose-built features include multi-location / franchise management, a comprehensive reporting system, business intelligence capabilities, business growth at scale, employee management and payroll, and automation capabilities to boost operational productivity.
Rexhi Dollaku, General Partner at Base10 Partners added: “When we first met Ethan, it was clear that he and his team were not interested in becoming just another vertical SaaS company for the pet industry, but aspired to redefine an entire category. MoeGo is a true business-in-a-box platform for its customers, powering pet service professionals to do what they do best: take care of pet families. We see parallels between MoeGo’s product excellence in pet care to transformational companies like Toast for restaurants or ServiceTitan for home services professionals.”
Ethan concluded, “This Series A funding represents a pivotal moment in our journey to catalyze positive change in the pet care industry. The new funding will fuel our product development initiatives, empowering us to introduce innovative features, enhance user experience, and expand our services to meet the dynamic, growing needs of the pet care industry. Our talented team will be able to continue to offer high-quality pet care tech solutions to a broader spectrum of pet care businesses, including pet boarding, daycare, and pet retail enterprises.”
About MoeGoMoeGo is a pioneering force in the pet vertical SaaS industry, committed to revolutionizing the technology infrastructure of the pet economy. With an unwavering focus on delivering exceptional products and services, MoeGo aims to redefine the industry and empower pet service providers. For more information, visit https://moego.pet/.
About Base10 PartnersFounded by Adeyemi Ajao and TJ Nahigian, Base10 is a San Francisco-based venture capital fund investing in founders who believe purpose is key to profits and in companies that are automating sectors of the Real Economy. This includes heavily investing in Business-in-a-Box companies, which employ a multi-product strategy to consolidate core business operations in one platform that is purpose-built for a particular Real Economy end vertical or sector. The Advancement Initiative, Base10’s growth-stage fund, donates 50% of profits to underfunded colleges and universities to support financial aid and other key initiatives. Portfolio companies include Notion, Figma, Nubank, Nowports, Motive, Chili Piper, and Popmenu. Connect via base10.vc.
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