# Figo Pet Insurance

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/figo-pet-insurance

- Industry: Insurance
- Headquarters: Chicago, US
- Website: www.figopetinsurance.com
- Total disclosed funding: $4M
- Latest round: Series B (Mar 14, 2018)
- Investors on record: 1

## About

Figo Pet Insurance LLC offers innovative pet insurance solutions that cater to the needs of modern pet owners, providing comprehensive coverage for various veterinary expenses and a user-friendly experience.Figo Pet Insurance LLC provides specialized pet insurance, established in 2012 in Chicago, US. The company, founded by Rusty Sproat, has engaged in five funding rounds, the latest being an investment of USD 1.50 mn in October 2021. This round was part of a deal where PetPartners, Inc. agreed to fully acquire Figo, with the transaction expected to close by year-end 2021.Figo Pet Insurance specializes in flexible insurance solutions for pets, covering a range of veterinary expenses including accidents, illnesses, and wellness care. They uniquely offer coverage for curable pre-existing conditions after a symptom-free period of 12 months. Their platform features an efficient app for easy claim submissions, often processed in 24 hours, primarily serving pet owners in the US and Puerto Rico.Figo Pet Insurance operates on a subscription model with monthly premiums based on varying coverage options. Their offerings can be tailored through optional enhancements called "Powerups," allowing direct-to-consumer transactions via their online platform. This model establishes a steady revenue stream through renewals, reflecting their focus on customizable pet care solutions.Following the agreement with PetPartners, Inc. in October 2021, Figo Pet Insurance plans to leverage its resources for new product development targeting enhanced pet insurance options. With the upcoming integration into PetPartners’ platform, there may be potential for geographic expansion beyond its current markets in the US and Puerto Rico, aiming to reach more pet owners by the end of the year. The recent investment will support these initiatives by facilitating operational enhancements and marketing efforts.

## Funding rounds

- Series B, Mar 14, 2018, $4M — HCS Capital Partners

## Investors

- HCS Capital Partners (https://capitalatlas.ai/funds/hcs-capital-partners) — Series B