Thursday, May 24, 2018

Rover Raises $155M

Seattle-based dog-sitting marketplace Rover announced Thursday morning that it has raised $155M, split between a huge, $125M equity funding round for the company and $30M in a credit facility. The equity funding was led by T. Rowe Price Associates, and also including Winslow Capital, Cross Creek, TCV, Greenspring Associates and Spark Capital. The $30M line of credit came from Silicon Valley Bank. According to Rover, the new funds will go towards international expansion, to enhance its core offerings, and "new service adjacencies". Rover, led by CEO Aaron Easterly, has now raised over $281M in total equity funding. Rover said that its existing investors are A-Grade Investments, Foundry Group, Madrona Venture Group, Menlo Ventures, OMERS Ventures, Petco, and StepStone Group.