Wagmo

Wagmo

Pet insurance and wellness plans for pets

About Wagmo

Simplify's Rating
Why Wagmo is rated
B+
Rated B on Competitive Edge
Rated B on Growth Potential
Rated A on Rating Differentiation

Industries

Healthcare

Company Size

11-50

Company Stage

Early VC

Total Funding

$24.4M

Headquarters

New York City, New York

Founded

2017

Overview

Wagmo specializes in pet insurance and wellness plans designed for cats and dogs, catering to the growing number of pet owners seeking comprehensive care solutions. The company offers two main products: wellness plans that cover routine expenses like vet visits and grooming, providing over $1,100 in annual reimbursements, and insurance plans that cover unexpected incidents such as accidents and illnesses, potentially covering up to 100% of costs after the deductible in certain states. Wagmo operates as a licensed insurance agency, earning revenue from premiums while partnering with the National Specialty Insurance Company for underwriting. What sets Wagmo apart from competitors is its focus on both preventive and emergency care, allowing pet owners to manage both expected and unexpected costs effectively. The company's goal is to make pet care more affordable and accessible for pet owners.

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Simplify's Take

What believers are saying

  • Partnership with Rover expands Wagmo's reach to a larger pet owner network.
  • Growing pet ownership among millennials and Gen Z boosts demand for Wagmo's services.
  • AI integration in insurance operations could enhance Wagmo's efficiency and customer service.

What critics are saying

  • Increased competition from tech-enabled startups may pressure Wagmo's market share.
  • Dependency on Rover partnership could be risky if partnership dynamics change.
  • $9 million funding may be insufficient to scale in a rapidly growing market.

What makes Wagmo unique

  • Wagmo offers both preventive and emergency pet care coverage, unlike typical insurers.
  • Their wellness plans provide over $1,100 in annual reimbursements for routine pet care.
  • Wagmo's digital platform allows for 24/7 telemedicine support and quick claims processing.

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Funding

Total Funding

$24.4M

Above

Industry Average

Funded Over

3 Rounds

Early VC funding comparison data is currently unavailable. We're working to provide this information soon!
Early VC Funding Comparison
Coming Soon

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Life Insurance

Disability Insurance

Unlimited Paid Time Off

Parental Leave

401(k) Retirement Plan

Company Equity

Pet Insurance

Company Social Events

Growth & Insights and Company News

Headcount

6 month growth

-8%

1 year growth

-2%

2 year growth

-8%
Coverage
May 3rd, 2024
Wagmo Partners With Rover

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PR Newswire
Jan 18th, 2024
Erie Insurance'S Corporate Venture Capital Arm Announces Three New Investments

Erie Strategic Ventures invests in tech-enabled pet wellness and insurance, AI-powered insurance operations and digital estate planning startupsERIE, Pa., Jan. 18, 2024 /PRNewswire/ -- Erie Strategic Ventures, the venture capital arm of Erie Insurance (ERIE), today announced investments in three new portfolio companies: Wagmo, Roots Automation and Trust & Will.The Erie Strategic Ventures fund, launched in August 2022, focuses on investing in the personal and commercial insurance value chain, as well as adjacencies that offer potential to deliver value to ERIE, its agents and policyholders. ERIE works with the corporate venture capital firm Touchdown Ventures to help manage Erie Strategic Ventures. The three investments announced today support startups operating in tech-enabled pet wellness and insurance, AI-powered insurance operations and digital estate planning."We are excited to partner with Wagmo, Roots Automation and Trust & Will," said Keith Kennedy, senior vice president for Next Level Innovation at Erie Insurance. "Erie Insurance is a relationship company, and we believe that these three relationships create numerous opportunities for mutual benefit."Wagmo offers a tech-enabled pet care solution with unique pet wellness and pet insurance products specifically designed for employers, designed to extend coverage beyond traditional offerings and increase value and flexibility for customers. Select features include the ability to visit any groomer or service provider, submit claims digitally and have claims paid in 24 hours all through Wagmo's app

Coverage
Aug 24th, 2023
Pet Insurance Company Wagmo Raises $9 Million

Wagmo <i class="fa fa-info-circle company-popover" data-content="h3Wagmo/h3. div. table

Wagmo
Mar 15th, 2023
Teaching Your Pet New Tricks: A Step-by-Step Guide

That's why Wagmo, Inc. has created this step-by-step guide to help new pet parents navigate the training process with confidence.

Business Wire
Jan 25th, 2023
The Diversity Marketing Consortium™ Renews Content Partnership With Forbes Eq Brandvoice For Third Year

NEW YORK--(BUSINESS WIRE)--Today, the Diversity Marketing Consortium™ (DMC) announced that it has renewed its partnership with Forbes for a third year, in order to provide select DMC clients with an additional channel to further amplify and share their stories. The partnership, specifically with Forbes EQ (Equity Quotient), sits under the Forbes BrandVoice program. Traditionally a paid content marketing platform, Forbes EQ’s partnership with the DMC gives a curated selection of DMC clients the ability to post bylined thought leadership articles for free, underscoring Forbes’ commitment to amplifying diverse voices, as well as representation, inclusion, and systemic equity.“Forbes is thrilled to be partnering with the DMC once again as part of our ongoing dedication to equity and inclusion,” said Allison Rickert, Executive Director and Program Lead, Forbes EQ. “Forbes EQ is an opportunity for our team to connect directly with the brands and nonprofits that are driving a more equitable world; working with the DMC enables us to further showcase a range of for-profit organizations and their underrepresented founders whose energy and passion exemplifies the entrepreneurial spirit that powers Forbes.”Across the Forbes EQ platform, contributors share expertise and insight across four key verticals: Inclusive Capitalism, Education & Access, Justice & Reform, and Health & Wellness. To date, a number of DMC clients have had the opportunity to tell and promote their stories through Forbes EQ including gaming fintech Ugami, self storage startup Stuf, agriculture social enterprise myAgro, e-commerce platform Groupshop, pet insurance provider Wagmo, and scheduling automation platform Cabinet.“Collaborating with Forbes and the DMC gave Ugami the opportunity to tell our exciting story on the Forbes EQ platform," said Hector Hulian, CEO, Ugami. "Our mission is to build financial solutions for the gaming community that meets their needs, and the feedback we received has been amazing.""Our partnership with Forbes EQ helped us demonstrate how we are delivering on our mission to move farmers in West Africa out of poverty," said Erin Moore, Chief of Staff at myAgro

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