The latest funding comes on the heels of a $27 million Series A round completed in 2023, with investments from Avanta Ventures, Liberty Mutual Insurance, Old Republic International Corporation, and Stray Dog Enterprises.
The newly secured funds will be directed towards expanding product offerings and partnerships, as well as driving digital innovation aimed at enhancing the customer experience.
Founded in 2015, Companion Protect has made significant strides in the pet insurance industry, launching programs for major insurers like Liberty Mutual, Safeco, and CSAA Insurance Group. The company also develops specialized insurance programs for animal shelters, retailers, and employee benefit providers.
In a recent development, Companion Protect announced that it has secured a contract with “another Top 5 insurer” to introduce a new pet insurance program in the coming months, further solidifying its position in the market.
Speaking about the raise, Chuck Laue, founder and CEO of Companion Protect said: “This level of investment from our strategic partners demonstrates incredible belief in our purpose to ensure better outcomes for pets because pets make us happy.”
He added: “Additional investment reflects our investors’ confidence in the Companion Protect team to deliver customised pet healthcare solutions to our channel partners and their customers.”
