- Companies
- Embrace Pet Insurance
Embrace Pet Insurance Acquisition, Valuation, Funding & Investors
Embrace Pet Insurance was acquired by JAB Holding Company for $1.5B in November 2023, a 6.9x multiple on $216M of revenue.
Embrace Pet Insurance acquisition price
$1.5B
Acquired by JAB Holding Company · Nov 2023
Embrace Pet Insurance revenue at acquisition
$216M
Last twelve months · Nov 2023
Embrace Pet Insurance revenue multiple at acquisition
6.9x
EV/Revenue · Nov 2023
Cumulative funding Embrace Pet Insurance raised
$5M
across 1 funding round
About Embrace Pet Insurance
Embrace Pet Insurance is a Cleveland-headquartered provider of accident and illness policies for dogs and cats across the United States. Policies reimburse eligible veterinary costs for hereditary conditions, cancer treatments, dental illnesses, hip dysplasia, and alternative therapies like acupuncture and chiropractic care. The company offers wellness rewards covering routine care such as vaccinations and flea prevention up to specified limits. Launched in 2006, Embrace processes claims within two days on average and provides a dedicated pet helpline available around the clock. It partners with veterinary clinics nationwide for seamless reimbursements and maintains an A+ rating from the Better Business Bureau.
Founded
2005
HQ
Website
Status
Acquired
Customer focus
B2C
Revenue model
Product sales
Revenue
$216M (Nov 2023)
Valuation
$1.5B (acquired Nov 2023)
Sectors
Embrace Pet Insurance Acquisition
Embrace Pet Insurance was acquired by JAB Holding Company for $1.5B on 29 November 2023.
The acquisition price implies a 6.9x revenue multiple on $216M of revenue.
Before the acquisition Embrace Pet Insurance had raised $5M across 1 funding round.
JAB Holding Company acquired Embrace Pet Insurance, one of the fastest-growing pet insurance brands in the United States, closing the transaction in November 2023 for $1.5 billion. Embrace provides comprehensive pet health insurance for dogs and cats with strong customer satisfaction metrics, including Apollo AI claims processing technology that speeds up claims processing by 75% compared to traditional methods. At the time of acquisition, Embrace had achieved significant scale with 500,000 pets insured and had processed over 4.6 million claims since its founding in 2006, including more than 1 million claims in 2023 alone. The acquisition represented a strategic expansion of JAB Holding's pet insurance platform, which was simultaneously building out its portfolio through multiple complementary purchases. Alongside the Embrace deal, JAB's Independence Pet Holdings subsidiary acquired Pets Best Insurance Services (in partnership with Synchrony Financial) and Felix Cat Insurance, positioning the combined platform to serve diverse pet owner segments. This acquisition was part of JAB's broader mission to establish a global leader in pet insurance and build a comprehensive pet health and wellness ecosystem, combining insurance products with pet health services to serve pets throughout their lifecycle.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 29 Nov 2023 | PE buyout | $1.5B | 6.9x |
Embrace Pet Insurance Funding History
Embrace Pet Insurance has raised a total of $5M across 1 funding round.
Embrace Pet Insurance funding rounds
| Date | Stage | Raised | Deal Summary |
|---|---|---|---|
| May 2014 | Seed | $5M | Embrace Pet Insurance raised a total of $4.33M to $4.5M across 8 funding rounds or 1 consolidated round. A funding event occurred on or around May 5, 2014 or June 5, 2014 for $4.5M. Investors included NSM Insurance Group, NCT Ventures, JumpStart, and Wharton Venture Initiation Program. |
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Start Free TrialEmbrace Pet Insurance Competitors
Embrace Pet Insurance competitors include listed companies like Safety Insurance Group, Trisura Group, Hagerty and Wuestenrot & Wuerttembergische, and private ones like Nirvana Insurance and Ominimo.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.5B | - | ||
| Publicly listed | $1.3B | $135M | $1.5B | 1.2x | ||
| Publicly listed | $622M | $142M | $1.5B | 0.6x | ||
| Publicly listed | $1.5B | $185M | $1.5B | 1.4x | ||
| Publicly listed | $6.6B | $350M | $1.5B | 2.1x | ||
| Private | $350M | - | $1.6B | 4.6x |
Embrace Pet Insurance Public Comps
Embrace Pet Insurance is no longer listed, but its public comps include Safety Insurance Group, Trisura Group, Hagerty, Wuestenrot & Wuerttembergische, Croatia Osiguranje, Kemper, UFG Insurance, MAPFRE Perú, Grupo Nacional Provincial and Ategrity Specialty.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.3B | $135M | 1.2x | 1.2x | 11.2x | - | |||
| $622M | $142M | 2.4x | 0.6x | 10.5x | - | |||
| $1.5B | $185M | 1.4x | 1.4x | 10.7x | 7.5x | |||
| $6.6B | $350M | 1.7x | 2.1x | 31.5x | - | |||
| $753M | $111M | 1.9x | - | 12.7x | - | |||
| $4.8B | $274M | 0.5x | 0.5x | 8.9x | - | |||
| $1.4B | $170M | 1.0x | 1.0x | 8.3x | - | |||
| - | - | - | - | - | - | |||
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Common questions about Embrace Pet Insurance
| When was Embrace Pet Insurance founded? | Embrace Pet Insurance was founded in 2005. |
| Where is Embrace Pet Insurance headquartered? | Embrace Pet Insurance is headquartered in Cleveland, OH, United States. |
| Is Embrace Pet Insurance publicly listed? | No, Embrace Pet Insurance was acquired by JAB Holding Company in November 2023. |
| Who acquired Embrace Pet Insurance? | Embrace Pet Insurance was acquired by JAB Holding Company in November 2023. |
| How much was Embrace Pet Insurance acquired for? | Embrace Pet Insurance was acquired for $1.5B in November 2023, a 6.9x revenue multiple. |
| How much funding has Embrace Pet Insurance raised? | Embrace Pet Insurance has raised $5M across 1 funding round. |
| What was Embrace Pet Insurance's last funding round? | Embrace Pet Insurance's last funding round was a $5M seed round in May 2014. |
| Which companies are comparable to Embrace Pet Insurance? | Companies comparable to Embrace Pet Insurance include Nirvana Insurance, Safety Insurance Group, Trisura Group, Hagerty, Wuestenrot & Wuerttembergische and Ominimo. |
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