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TDM invests in Pet Circle
Portfolio News / TDM News
7 Dec 2021
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Pet Circle, Australia’s largest online specialty pet company and the third largest globally, has today announced a Series C funding round of $125 million, led by Prysm Capital and TDM Growth Partners.

 

Other participants in the round included new investor Baillie Gifford and existing investor AirTree Ventures. With this new round of funding Pet Circle will become Australia’s newest unicorn and is positioning itself to become the best pet company in the world. 

Over the past decade, Pet Circle has been a driving force of innovation in the pet supply industry. The company has built an integrated pet care platform that today includes subscription, VetChat and Telehealth services and offers more than 10,000 products, to reimagine the experience of pet ownership. The funding will be used to accelerate Pet Circle’s continued growth as it continues to develop its best-in-class software platform and expands its warehouse footprint, dedicated fleet, and product range.  ‘

Pet Circle has experienced significant growth in the past 18 months, with Australian pet parents spending over $1,000 per year, increasingly online. Over the past year, Pet Circle has seen a 50 percent increase in puppy and kitten food sales across its specialty channel alone.

The $15 billion pet supplies market continues to be well placed for long-term growth as pet owners seek better access to quality advice, quality products and a better way to shop for their pets.
“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,” said Michael Frizell, Co-Founder and CEO, Pet Circle. “At Pet Circle we put the pet customer at the centre of everything we do in order to offer Australians the best pet experience in the world.”

Ben Gisz, Co-Founder, TDM Growth Partners, “Pet Circle is changing the way Australian pet owners care for their pets. We’re excited to partner with Pet Circle in this next stage of growth as they continue to deliver on their strategy to be the most innovative and leading retailer of pet supplies in the country.”
Craig Blair, Cofounder and Partner, AirTree Ventures, “Mike and the Pet Circle team are the quiet achievers in Australia’s startup scene. It’s been a privilege to work with them from day one as they’ve been boots on the ground, innovating the ecommerce experience for pet owners.

The role pets play in our lives can’t be understated – they’re irreplaceable members of the family. As pet owners now look for the same level of variety and quality of products as they do for themselves, Pet Circle is in the best position to meet these expectations.”Jay Park, Co-Founder and Managing Partner, Prysm Capital, “The foundation that Mike and the team have built positions Pet Circle as an emerging winner, redefining the retail experience for pet parents across Australia. The humanization of pets is a significant macro tailwind impacting markets globally, and we look forward to partnering with Pet Circle on their next chapter of accelerated growth.”

The investment in Pet Circle is subject to receipt of customary regulatory approvals.

Click below to read the AFR exclusive – From Puppies to Unicorns

About Pet Circle: 

Founded in 2011, Pet Circle is Australia’s No. 1 online pet supply company. Our mission is to build the best pet company in the world by providing the widest range of the highest quality brands and products, free 24/7 access to vet advice and the most-trusted, fast and free delivery network. PetCircle is committed to developing innovative ways for our customers to engage with us and helping all pet parents, pet better.

 
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