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Pet supplies e-retailer Pet360 raises $18 million in a new investment round
The merchant, which operates two e-commerce sites, will use the money for expansion.
Pet360 Inc., which operates several pet-related e-commerce and informational sites, said this week it had raised $18 million in equity investment.
Updata Partners led the funding round, with current investor LLR Partners also taking part. LLR took part in a previous funding round in 2007, when Pet360 raised $10 million from the private equity firm.
Pet360’s e-commerce sites include PetFoodDirect.com, which focuses on food and supplies, and NationalPetPharmacy.com, where consumers can buy medicines, vitamins and health products. The company also operates the PetMD.com informational site. Pet360 plans to use the new funding for expansion and to further differentiate the divisions.
"Updata Partners has the seasoned talent, connections and operational expertise to help capitalize on how pet owners are gathering information, socializing together, and purchasing products within the digital landscape,” says Brock Weatherup, CEO of Pet360. “Updata's digital commerce and technology investment track records speak for themselves, and we look forward to working with their team.”