USA – Tractive, a Pasching, Austria-based provider of a GPS device for real-time location tracking for dogs and cats, closed a $35m growth funding.
The round was led by Guidepost Growth Equity with participation from Attila Balogh, entrepreneur and former Chairman and CEO of Partner in Pet Food. In conjunction with the funding, Guidepost General Partner, Chris Cavanagh, and consumer subscription model expert and former Ancestry and Lynda.com executive, Andrew Wait, will join Tractive’s board of directors. Founded in 2012 in Austria and led by Michael Hurnaus, CEO, Tractive specializes in the development of pet tech, wearables and apps including its flagship GPS trackers and the Tractive GPS app. Currently, the company offers its GPS live tracking, virtual fence setting and alerts, along with activity and fitness tracking. The device also leverages a dog’s or cat’s collected activity, sleep and motion data to inform pet owners of any potential health issues or concerns. Additionally, the company has established roaming capabilities on more than 600 mobile operator networks and multiple carriers in the United States. Currently, Tractive has more than 400,000 active subscribers.The company intends to use the funds to accelerate innovation and adoption of its pet tracking device, which currently serves over 400,000 active subscribers across 175 countries. Tractive plans to invest in customer acquisition and product development, pursuing new partnerships and distribution opportunities, and adding key personnel to oversee U.S. growth.26/06/2021
