By Pen King, Innovating Capital
Today we’re excited to announce our investment in Pawp, a digital health clinic for your pets! Reasons why we love Pawp:
- The pet industry has risen to +$100BN per year, with over 50% of American households owning at least one pet
- Pets have been great companions in combatting mental health issues, particularly during these COVID times
- Discretionary spending on pets has proven to be recessionary resistant, growing at 5% per annum
- However, only 1–2% of Americans have affordable access to pet insurance, while going to the vet can cost up to thousands of dollars per visit
- Pawp’s seamless, user-friendly application provides pet owners with 24/7 access to vets via a tele-health (video and chat) platform: all for just $19/month which includes $3K in emergency insurance
- The team has prior experience running companies (exited Clarity Money to Goldman Sachs), attended Harvard together, and are proud pet owners themselves
If you have a pet, please take a look at Pawp.com and sign up! You will be amazed by the speed and quality of their platform.
