|News Update|| |
Tractive raises $35 Million as It brings GPS tracker for pets
Tractive, the most trusted GPS device in the world for providing round-the-clock, real-time location tracking for dogs and cats, today announced that it has closed $35 million in growth funding led by Guidepost Growth Equity. The investment will accelerate innovation and adoption of the company’s industry-leading pet tracking device, which currently serves over 400,000 active subscribers across 175 countries, the largest network in the world. 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. Entrepreneur and former Chairman and CEO of Partner in Pet Food, Attila Balogh, also participated in the investment — the company’s first since it began selling devices in 2013, as Tractive has been cash flow positive since inception.
Additionally, Tractive announced significant improvements to the battery life of its latest generation GPS tracker for dogs and cats. With new software that leverages an owner’s WiFi to reduce unnecessary battery strain when pets are at home, Tractive has extended battery life by 5x.