San Diego-based pet boarding start-up Furlocity has closed a private placement of about $1.2 million. Ventana Capital Partners was a lead investor.
San Diego, CA – December 18, 2014 – Furlocity, Inc. (“Furlocity” or the “Company”), a premier pet accommodations website and online booking platform that enables pet parents to search, identify and book trusted pet boarding facility stays, veterinary services and pet-friendly hotels, announced today the successful completion of an approximate $1.2 million private offering (the “Financing”).
Launched in 2012, Furlocity has quickly become the go-to technology partner of pet boarding facilities and veterinarians to help them generate new business and to simplify the transaction process for customers. According to the American Pet Products Association, Americans spent an all-time high of $55.7 billion on their pets in 2013. Of that amount, approximately $20 billion was spent on veterinary care and pet services (grooming and boarding).
“People love their pets and treat them like family, making the pet accommodations and pet care services industries ripe for growth. The market potential for Furlocity, coupled with early positive reception from the pet boarding facility and veterinary communities, has been extremely encouraging,” commented Andy Smit, Chief Executive Officer and Founder of Furlocity. “I am confident Furlocity’s technology will foster stronger, longer-lasting and more trusting relationships between pet boarding facilities and pet parents.”
“The investment community has reacted very positively to Furlocity,” noted Ralph M. Amato, a Board member and principal stockholder of the Company and the Managing Partner of Ventana Capital Partners, LLC, a consultant to the Company. “The strength and resiliency of the broader pet care services industry is remarkable, and Furlocity is well-positioned to capitalize on the continued growth of the industry. The Company’s value proposition will become increasingly clear to pet boarding facilities and pet parents as the market continues to grow.”
The securities sold in the Financing have not been registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the U.S. absent registration or an applicable exemption from registration requirements. The Financing was conducted by the officers and directors of the Company on a “best efforts” basis solely to “accredited investors” pursuant to Section 4(a)(2) and Rule 506(b) of Regulation under the Securities Act.
This notice does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state.
Furlocity is the premier pet accommodations website and online technology platform that enables pet parents to search, identify and book trusted pet boarding stays, veterinary services and pet- friendly hotels. Furlocity’s innovative technology simplifies the booking process for pet parents, and ultimately enhances the overall experience for their beloved pets. Furlocity’s online marketplace currently includes top-rated pet boarding facilities and veterinarians in over 80 cities and 30 states, and more than 100,000 pet-friendly hotels across the United States.
Furlocity was founded in San Diego in 2012 by Andy Smit and Amber Kirsten-Smit. As busy pet parents themselves, they understood the need to establish a more intuitive process for finding safe pet accommodations options. Subsequently, they launched Furlocity to help foster mutually beneficial relationships between pet parents and trusted pet care services providers.