NEW YORK, June 3, 2021 /PRNewswire/ — Odie Pet Insurance announced the close of over $3 million in new funding to accelerate its growth and invest in technology. Odie’s mission is to democratize pet insurance by bringing a new generation of pet owners into the market. Their product and strategy are geared toward Millennials and Gen Z’s, the fastest growing demographic of pet parents in the U.S. Odie set out to solve the shortcomings of legacy pet insurance providers by offering its members greater coverage flexibility, stable and predictable annual premiums, and shared values that are centered around pet wellness.
Backed By The Best
The investment round was led by Walkabout Ventures and Slow Ventures which have successful track records within the insure-tech and consumer pet sectors. A distinguished list of New York based family offices and individual investors also made direct investments into the round.
"I’m extremely humbled by the quality and professional expertise of our investors. Each one brings a high level of synergy and strategic value to our business," said Miles Thorson, Co-Founder & CEO.
Unique Distribution Strategy
Odie’s innovative approach to pet insurance distribution creates tech-enabled B2B partnerships in addition to acquiring customers through its direct to consumer web app (www.getodie.com). "We were excited by Odie’s diverse growth strategy. Their abilities to provide embedded pet insurance solutions and a high level of customization to partners was a key differentiator," said Josh Diamond of Walkabout Ventures. Odie already gained significant traction across channels such as employee benefits, personal insurance, and the pet industry. They aim to work with partner companies that share in their view that no pet parent should be forced to choose between finances and their pet’s well-being.
Investing In Thoughtful Automation
The new funding will be put toward continuous product and technology enhancements including: claims and payments automations, increasing member portal functionality, and the expansion of partnership integrations. While Odie’s offering is centered around technology, they’re taking a more thoughtful approach to automation. They believe in the benefits of coupling technology with human involvement and emotional intelligence to provide pet parents with a high touch and personable service. A large portion of funding is also being used to build out a world class member experience team and hire other key roles within the company.
Odie is a wellness first, tech-enabled pet health insurance brand that empowers conscientious pet parents through authentic inclusivity, simple customization, holistic care, and community engagement. Odie was founded with a revolutionary spirit and caregiving goal: to provide all dog and cat owners access to essential pet care services through a centralized digital hub. Odie Pet Insurance Marketing Inc. distributes pet insurance plans underwritten by PrimeOne Insurance Company, Inc. and ClearBlue Insurance Group.
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SOURCE Odie Pet Insurance Marketing Inc