FOR IMMEDIATE RELEASE
Stephanie N. Blahut
Director of Marketing
Figo Secures $4 Million in Series A Funding
CHICAGO, Ill., March 4, 2016--Figo, the Chicago-based pet technology and insurance company, announced the closing of a Series A funding round of $4 million with participation from private investors. This brings the company's cumulative funding to $8 million. The latest funding will support the continued development of their proprietary Pet Cloud technology platform and mobile app.
"Securing our A-round of capital will allow us to continue our focus on innovative technology, which makes life easier for people and their pets," said Rusty Sproat, president and founder of Figo.
Figo is a graduate of 1871, a Chicago digital-startup facility and one of nine Google Tech Hubs in North America. Since launching in April 2015, Figo has continued its nationwide rollout, expanding coverage to nearly all 50 states including Illinois, New York, California, and Florida. Additionally, the company is making significant enhancements to its signature Pet Cloud technology platform, with plans to release the application as freeware later in 2016.
"The next version of the Pet Cloud app will be free for anyone to use regardless of whether or not they are insured with Figo," stated Sproat. "The enhanced Pet Cloud will include features to socially connect pet parents, offer improved geo-based location services, incorporate user reviews, along with the ability to upload photos, and rate pet-friendly businesses."
The Figo Pet Cloud currently offers customers a means of managing their pet's life from any device. Core features of the Pet Cloud include real-time pet GPS tracking, mobile records storage, social pet profiles, and finding nearby pet-friendly locations. Figo insurance customers receive comprehensive insurance coverage, as well as, mobile claims submission and complete account management via their mobile devices. New customers receive a Figo Pet Tag, featuring a unique and trackable identification code that pets can wear on their collar. Once matched to their pet's online profile, the tag identification code can assist owners in reconnecting with their pet in the event that they are lost.
Figo is committed to helping pets and their families enjoy their lives together. Fusing innovative technology and the industry's best pet insurance plans, we give families assurance when they need it most. Underwritten by the Markel Corporation, Figo Pet Insurance provides pet owners with easy-to-use, reliable insurance and peace of mind. With three customizable plans that cover illness and injuries to dogs and cats, our coverage provides reimbursement for treatments administered by licensed veterinarians, ER hospitals, and specialists anywhere in the US, Canada, and Puerto Rico. For more info on the Figo Pet Cloud or Figo Pet Insurance plans and coverage, visit FigoPetInsurance.com.
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