Leader in GPS Tracking for Dogs and Cats receives Trivago Investment
LINZ, AUSTRIA, December 19th, 2018 – Tractive receives investment from trivago founders and officially launch the world’s first GPS tracker for cats
The Austria-based company, Tractive, who’s quickly become the world market leader in GPS tracking for dogs and cats, has received a seven-figure investment from Monkfish Equity, the investment entity created by the founders of trivago. Concurrently, Tractive has officially launched their new GPS tracker for cats.
Monkfish Equity has invested in Tractive to capture a share of the incredibly fast-growing pet-tech market and to help further accelerate Tractive’s growth.
“With Monkfish we have brought a partner on board that really knows how to take companies to the next level. Their incredible marketing know-how and experience in scaling companies profitably in just a few years will be immensely helpful,” said Michael Hurnaus, CEO of Tractive.
“Dogs and cats are considered members of the family in most households, and this is only becoming more common. Digitally speaking, the pet market is still very much in its infancy and we are very excited to help support and further grow Tractive, who are already leaders in the digitalization of the pet space,” added Malte Siewert, Partner at Monkfish Equity.
Monkfish Equity holds numerous investments in popular startups such as Calm.com, Freshly.com, Vinted.com, Delivery Hero, Hello Fresh, Alphapet and X24 Factory. Through this transaction, Monkfish has acquired 3% of the shares of the successful and growing company. The exact value of the transaction is undisclosed.
New Product, New Market
Tractive’s focus for the last few years was primarily on dog owners with their popular Tractive GPS tracker. Aiming to expand the pet market further, Tractive has officially launched the world’s first cat-specific GPS tracker and activity monitor. This new device enables cat owners to finally discover where their cats go, see how much time they spend in various locations and find them whenever needed.
“A huge number of cat owners constantly wonder what their cats do all day: where they go, which neighbor feeds them, and how far away from home they wander. Now they can finally get an answer,” said Wolfgang Reisinger, CFO of Tractive.
The new Tractive GPS Cat tracker is already available on www.tractive.com for € 49.99 for the European market and will be followed by a worldwide rollout in 2019. The new tracker will be officially presented at the Consumer Electronics Show (CES) in Las Vegas at the beginning of January 2019. This will be the 7th year Tractive has attended the worlds largest show focused on consumer electronics.
Tractive develops GPS trackers for dogs and cats, which allows for location tracking and activity monitoring of pets through a smartphone app or web browser. Tractive’s mission is to strengthen the bond between pets and their owners by leveraging technology to ensure a healthier, longer and safer life together.
Tractive was founded in 2012 by Michael Hurnaus, Michael Lettner and Michael Tschernuth along with the successful founders of the fitness company Runtastic. Additional investors include European Business Angel of the Year, Hansi Hansmann and former race car driver, Harold Primat. The company is based in Pasching, Austria, and currently employs around 70 employees and has customers in over 120 countries.
The full press kit is available here: Tractive & Monkfish