# Pet Friends

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

- Industry: Consumer Products
- Headquarters: Seoul, South Korea
- Website: https://m.pet-friends.co.kr
- Total disclosed funding: $25M
- Latest round: Series B (Oct 15, 2020)
- Investors on record: 12

## About

Based in South Korea, Pet Friends is an e-commerce platform specializing in premium pet care products, enhancing the health and wellness of pets through high-quality food, supplements, and grooming solutions.Founded in 2015 in Seoul, South Korea, Pet Friends provides a variety of direct-to-consumer pet products. The company underwent significant change when IMM Private Equity and GS Retail acquired a 95% stake in July 2021 for KRW 150 billion, which allowed for operational enhancements. The CEO, Hyun Yoon, has been pivotal in steering the company's strategic vision since inception.Pet Friends focuses on developing premium pet care products that cater to health and wellness concerns, offering high-quality pet food, nutritional supplements, and grooming products. These offerings are designed to meet the specific needs of pets at different life stages, targeting a broad audience from pet owners to veterinarians and retailers. The company distributes its products across key markets, including North America, Europe, and Asia, ensuring comprehensive access to its solutions for pet care.In the most recent reporting year 2024, Pet Friends generated revenue of KRW 85,939,098.30, with an EBITDA of KRW 2,964,675.40, reflecting a well-established revenue model through direct sales and partnerships that engage both individual consumers and business entities.Following the acquisition in July 2021, Pet Friends plans to utilize the funding to enhance its logistics capabilities, boost marketing efforts, and diversify its product range. The company aims to launch new health-focused pet products and expand its presence in additional Asian markets, further strengthening its operational footprint by leveraging the recent investment.

## Funding rounds

- Series B, Oct 15, 2020, $13M — ID Ventures, CJ Investment, ES Investor, Murex Partners, STIC Ventures, K & Investment Partners, Daehan Flour
- Series B, Oct 17, 2019, $8.5M — CJ Investment, GS Retail, Korea Omega Investment Corp., Murex Partners, Kingsley Ventures, Wooriwa
- Series A, Nov 1, 2018, $3.5M — Murex Partners, Kingsley Ventures, DS & Partners

## Investors

- Murex Partners (https://capitalatlas.ai/funds/murex-partners) — Series A, Series B
- Kingsley Ventures (https://capitalatlas.ai/funds/kingsley-ventures) — Series A, Series B
- DS & Partners (https://capitalatlas.ai/funds/ds-partners) — Series A
- CJ Investment (https://capitalatlas.ai/funds/cj-investment) — Series B
- GS Retail — Series B
- Korea Omega Investment Corp. (https://capitalatlas.ai/funds/korea-omega-investment-corp) — Series B
- Wooriwa — Series B
- ID Ventures (https://capitalatlas.ai/funds/id-ventures) — Series B
- ES Investor (https://capitalatlas.ai/funds/es-investor) — Series B
- STIC Ventures (https://capitalatlas.ai/funds/stic-ventures) — Series B
- K & Investment Partners (https://capitalatlas.ai/funds/k-investment-partners) — Series B
- Daehan Flour — Series B