Tractive Raises $35M to Expand GPS Pet Tracking to the US

Tractive Secures $35 Million Series A Funding

A significant investment has been made in a company specializing in pet (cats and dogs) location tracking. Tractive, headquartered in Austria, has revealed a $35 million Series A funding round, spearheaded by Guidepost Growth Equity.

This funding represents the company’s initial venture capital raise since 2013, coinciding with the debut of its pioneering GPS-based pet tracker.

U.S. Market Expansion

Concurrent with the funding announcement, Tractive is formally initiating its expansion into the United States market. Previously, the company maintained a limited presence through a “soft launch” of an LTE tracker during the summer months.

Despite the lack of an official launch, the U.S. quickly became the company’s most rapidly expanding market.

Strategic Allocation of Funds

The newly acquired capital will be directed towards bolstering Tractive’s presence in the U.S. and North American markets. This includes scaling operations and increasing the company’s workforce.

To facilitate this growth, Tractive is actively recruiting a new Executive Vice President of North America and a Vice President of Marketing.

The Value Proposition of Tractive

“Tractive functions as a safety measure for your dog or cat, offering essential coverage precisely when and where it’s needed,” stated co-founder and CEO Michael Hurnaus. “Our design prioritizes an optimal user experience, delivering real-time data to empower pet owners to provide the best possible care.”

This includes monitoring activity levels to combat obesity and locating pets that may have escaped their confines.

Enhanced Tracker with Extended Battery Life

Tractive has also unveiled an upgraded tracker, with a primary focus on extending battery performance. A key improvement is the integration of Wi-Fi technology to minimize battery consumption while the pet is indoors.

The company claims this innovation can increase battery life up to fivefold. The tracker is priced at $50 in the U.S., alongside a recurring monthly subscription.

Competitive Landscape

In February, Fi, a competitor in the smart pet collar sector, announced a $30 million Series B funding round.