Fi Raises $30M in Series B Funding to Accelerate Exponential Growth in the $100 Billion Pet Market
Fi will use the new capital to continue hiring world-class talent and fund product innovation.
NEW YORK, February 25, 2021-- Fi, the smart dog technology company, today announced $30 million in Series B funding led by Longview Asset Management, with participation from Advance Venture Partners (AVP), Gokul Rajaram as well as existing investors RRE Ventures, Lerer Hippeau, and Freestyle.
Furthering the mission to strengthen the bond between dogs and dog parents through technology, the money raised will be used to continue hiring world-class talent and support the development of new features and capabilities for the Fi Smart Dog Collar.
“It’s been a great experience working with Fi since we led the seed round in 2017,” says Andrea Hippeau, Principal at Lerer Hippeau. “We’ve seen the product go from prototype to launch and now mass adoption by pet parents. We cannot wait to see where this next round of funding will take the company.”
Since launching in March 2019, Fi has quickly grown into the top smart dog collar option for dog parents. Continuing to lead the charge in the space, Fi released in Q4 the Fi Series 2 to improve its already unparalleled battery life (up to three months) and provide faster and more reliable escape detection. The company’s high-quality product has generated widespread user adoption — the average American now lives only two miles away from a Fi collar.
“As a pet owner myself, I see the massive need for Fi loud and clear,” says Silicon Valley product leader and angel investor Gokul Rajaram. “I'm excited to support Jonathan and the Fi team as they build a product that will forever change the relationship between pets and their humans.”
"I'm incredibly excited to bring Chuck Murphy of Longview and the new investors on board," says Jonathan Bensamoun, Founder and CEO of Fi. "Chuck and Longview have invaluable experience as public and private investors in the pet space. They were sitting front row through the acquisition of Chewy by PetSmart in 2017 in what is to this day a flagship deal for the industry. I couldn't think of better partners to take the company to the next level."
Founded by Jonathan Bensamoun (Square) and Loren Kirkby (Dropcam, Google/Nest) in 2017, Fi builds cutting-edge technology to elevate the relationship between dog parents and their dogs. Since launching the first LTE-M enabled GPS tracking collar in 2019, Fi has empowered millions of dog parents with insights about their dogs’ whereabouts and behavior. Allowing dog owners to locate their dogs from anywhere in the world, Fi has saved thousands of dogs' lives by providing real-time escape notifications and accurate GPS tracking to dog parents. The Fi smart collar also enables parents to monitor the health of their dogs and compare their activity to other dogs on the Fi network. With Fi, dog parents make sure their best friends live their best lives.
Fi is headquartered in DUMBO, Brooklyn, and currently hiring (dogs welcome). For more information, see https://tryfi.com.
About Longview Asset Management
Longview Asset Management is an investment firm that oversees direct public and private investments on behalf of individuals, trusts, and charitable foundations associated with a private family. Longview's public market investments span a broad range of industries, including healthcare, consumer, software, manufacturing, aerospace, and business and financial services. As a steward of permanent capital with minimal liquidity needs, Longview also works flexibly with management teams and financial sponsors to acquire and hold private businesses, and has completed such investments in a range of industries including animal supplies and wellness, financial and business services, manufacturing, food service, education, and communications infrastructure.
Brian Olney, VP Marketing, Fi
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