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IPO Profile: Trupanion Managers USA Inc

Company Details

Location: 907 North West Ballard Way, Seattle, Washington 98107

Phone: (800) 569-7913

Website: http://www.trupanion.com

Business Description: Vetinsurance International, Inc. offers medical insurance for pets

Investment & Return Details

VC backers: RenaissanceRe Ventures Ltd, Highland Capital Partners LLC, Maveron LLC

Investment Dates: 05/01/2005, 02/20/2008, 11/07/2011

Total Funding To Date (USD Mil): $31.10

Value of VCs’ shares at IPO price (USD Mil): $120.81

Total return to VCs at IPO price: 3.88x

Shares Beneficially owned by VCs at Offering:

  • RenaissanceRe Ventures Ltd: 2,464,380
  • Highland Capital Partners LLC: 3,064,240

Maveron LLC: 6,553,586

  • Value of VC shares at IPO price (USD Mil):
  • RenaissanceRe Ventures Ltd: $24.64
  • Highland Capital Partners LLC: $30.64
  • Maveron LLC: $65.53
  • Total: $120.81

IPO Details

Primary Exchange: NYSE

Ticker: TRUP

Time to Exit (Years): 9.2

Date Filed: 06/16/2014

Date Issued: 07/17/2014

Offer Price (USD): $10.00

First Day Closing Price (USD): $11.40

No. of Shares Offered + Overallot Sold All Mkts: 7,125,000

Proceeds Amt + Overallot Sold All Markets (USD Mil): $71.25

Post Offer Value (USD Mil): $265.59

Issuer’s Legal Advisor: Fenwick & West LLP

Book Runner: Barclays, RBC Capital Markets, Stifel Nicolaus & Co Inc

Co-Managers: Canaccord Genuity, Cowen & Co, LOYAL3 Securities Inc

Source: Thomson Reuters and company prospectus