Pet sitting subscription service TrustedHousesitters has completed a management buyout with backing from Mayfair Equity Partners.
Mayfair will hold a majority stake in the business, and the transaction values the business at more than $100 million.
Founded in 2010, the platform matches pet owners with verified sitters and opens up new travel destinations for sitters.
TrustedHousesitters said it is present in more than 140 countries and has facilitated 10 million nights of pet sitting.
CEO Mathew Prior and the management team plan to accelerate growth as well as invest in product innovation in core markets including Australia, the United Kingdom, the United States and Europe.
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“Pet parents know that pets are more comfortable at home than in kennels, boarding facilities or even with friends and family," Prior said. "At the same time, there are millions of pet lovers throughout the world who seek authentic, sustainable and cost-effective travel experiences. I’m proud of our platform’s growth over the past few years and the wonderfully positive feedback we receive from our members. We see a huge opportunity for continued expansion and believe that Mayfair is the right partner to help us achieve our global growth ambitions.”
Kunal Dasgupta, partner at Mayfair Equity Partners, added, “TrustedHousesitters is a unique pet care and travel solution with off-the-chart customer satisfaction scores. The company is creating a category by disrupting conventional pet-sitting services and offering a cost-effective alternative to traditional holiday accommodation. We’re excited to back a genuine innovator at the intersection of travel and pet care and believe that pet sitting services are an untapped opportunity in the pet care sector. TrustedHousesitters is ideally placed to succeed, and we’re excited to partner with Mathew and his team on the next stage of their journey.”