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- ManyPets
ManyPets Revenue, Valuation, Funding & Investors
ManyPets is valued at $2B as of June 2021, a 23.5x multiple on its last reported $85M revenue.
Last ManyPets valuation
$2B
Series D · Jun 2021
Last ManyPets funding round
$350M
Series D · Jun 2021
ManyPets revenue
$85M
Series D · Jun 2021
Key investors in ManyPets
Octopus Ventures
Munich Re Ventures
CommerzVentures
FTV Capital
EQT
Hedosophia
About ManyPets
ManyPets is a UK pet insurance provider offering policies for dogs, cats, and multi-pet households. Coverage includes lifetime conditions, dental issues, and wellness plans with no excess options. London-headquartered and launched in 2019 as Bought By Many, the firm uses AI for claims processing and serves over 200,000 pets. Partnerships with vets like Vets4Pets provide direct reimbursement.
Founded
2012
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Revenue
$85M (Jun 2021)
Valuation
$2B (Jun 2021)
Sectors
ManyPets Valuation
ManyPets is currently valued at $2B, based on its Series D in June 2021.
The $350M round was led by EQT, with participation from Octopus Ventures, Willoughby Capital, Munich Re Ventures, CommerzVentures and FTV Capital.
ManyPets valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jun 2021 | Series D | $2B | 23.5x |
ManyPets Revenue
ManyPets' latest recorded revenue is $85M, as of its Series D in June 2021. At a $2B valuation, that implies a 23.5x revenue multiple.
ManyPets revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jun 2021 | $85M | $2B | 23.5x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
ManyPets Funding History
ManyPets has raised a total of $483M across 4 funding rounds.
ManyPets' first fundraising round was a $9M Series A in January 2017. The most recent completed round was a $350M Series D in June 2021.
ManyPets funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2021 | Series D | EQT (lead); Octopus Ventures; Willoughby Capital; Munich Re Ventures; CommerzVentures; FTV Capital | $350M | $2B | ManyPets is a pet insurance insurtech company founded in 2012, offering policies that enhance pet health care accessibility and empower pet parents. The company raised a $350m Series D funding round in 2021 led by EQT, with participation from CommerzVentures, FTV Capital, Munich Re Ventures, Octopus Ventures, and Willoughby Capital, bringing total funding to around $483m. The round valued ManyPets as a unicorn during a period of high insurtech investment activity. Traction around 2021 included rapid expansion, with international markets entered in Sweden in 2019 and the US in 2021, alongside doubling revenues annually for several years as self-reported. Later filings show turnover of £42.3m in 2022 falling to £35.9m and £29.6m by March 2024 amid inflation pressures. The company faced challenges post-round with rising claims costs due to inflation in 2022-2023, leading to market exits and layoffs. In competitive context, ManyPets positioned itself with proprietary technology, agile pricing, and customer-focused services against traditional insurers. By 2024-2025, it reported improvements with loss ratio dropping to 70%, GWP at £232m, revenue at £62m, and first annual profit of £6.25m for year ending March 2025, signaling a turnaround. |
| May 2020 | Series C | FTV Capital (lead); Hedosophia (lead); Octopus Ventures; Munich Re Ventures; CommerzVentures | $97M | - | - |
| Jul 2018 | Series B | CommerzVentures (lead); Octopus Ventures; Crispin Odey; Munich Re Ventures; JamJar Investments; Evelyn Bourke | $26M | - | ManyPets, formerly known as Bought By Many, is a London-based insurtech company founded in 2012 by Guy Farley and Steven Mendel, specializing in pet insurance products. It launched its market-leading pet insurance policies in 2017 and quickly grew to insure over 200,000 pets by 2020. The company rebranded to ManyPets and expanded internationally, entering Sweden in 2019 and the US in 2021 with a subscription-based model offering pet health insurance and wellness packages. By 2021, Many Group (holding company) covered nearly half a million pets globally and doubled gross written premium (GWP) for three consecutive years to over $220M in the prior twelve months, though GWP is not revenue. Recent financials show UK GWP of £218M and group GWP of £232M for fiscal 2024/25. ManyPets established leadership in the UK pet insurance market, partnering with services like FirstVet and ranking highly in tech lists. The company continued raising capital, including a £78.4 million (~$98M) growth equity round in 2020 led by FTV Capital and a $350M Series D in June 2021 led by EQT Growth, achieving unicorn status at over $2 billion valuation. Total funding across rounds reached approximately $477M by 2021, with 10 investors including CommerzVentures, Munich Re Ventures, and Octopus Ventures. The pet insurance sector benefits from rising veterinary costs, with ManyPets innovating through data-driven products and international expansion. |
| Jan 2017 | Series A | Octopus Ventures (lead); Munich Re Ventures | $9M | - | Bought By Many completed a Series A funding round in January 2017 led by Octopus Ventures, securing $9.2 million in capital with participation from Munich Re Ventures. The company was at that time a UK-based digital insurance provider using social media and search data to deliver insight-driven insurance products. As part of the round, Bought By Many announced a long-term strategic partnership with Munich Re, which would provide reinsurance capacity and enable the company to launch its own branded, mobile-first insurance products starting in early 2017. At the time of this investment, the company was recognized as one of the world's leading insurtech startups for its innovative distribution model and technology platform. |
Who has invested in ManyPets?
10 investors have backed ManyPets across its funding rounds, including Octopus Ventures, Munich Re Ventures, CommerzVentures, FTV Capital, EQT and Hedosophia.
Lead investors include EQT, FTV Capital, Hedosophia, CommerzVentures and Octopus Ventures.
ManyPets Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Jan 2017 | ||
| 4 | Participant | Jan 2017 | ||
| 3 | Lead | Jul 2018 | ||
| 2 | Lead | May 2020 | ||
| -- | 1 | Participant | Jul 2018 | |
| 1 | Lead | Jun 2021 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Lead | May 2020 | ||
This data is available for Pro users. Sign up to see all 10 ManyPets investors. Start Free Trial | ||||
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Start Free TrialAcquisitions by ManyPets
ManyPets has acquired 4 companies to date.
Last acquisition by ManyPets was on October 25th 2022. ManyPets acquired Digital Edge Insurance Company for undisclosed valuation.
Latest Acquisitions by ManyPets
| Description | - | VetBox is a subscription service delivering pet health treatments against fleas, worms, and ticks. Operating from the United Kingdom, it fulfills ongoing protection needs for pet owners through direct-to-door shipments. | Cotidia is a Montreal-based custom software developer creating websites, mobile apps, and enterprise solutions for North American clients. The company specializes in e-commerce platforms using Shopify and Magento, SaaS applications with React and Node.js, and cybersecurity audits. Cotidia delivers projects for retail brands and healthcare providers across Canada and the United States. | Brooks Braithwaite (Sussex) Ltd is a UK insurance intermediary focused on equine, livestock, and pet policies for farms and equestrian centers across England. |
| HQ Country | ||||
| HQ City | - | London | Birmingham | Haywards Heath |
| Deal Date | 25 Oct 2022 | 17 Dec 2021 | 1 Feb 2019 | 17 Sep 2015 |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed |
| EV/Revenue | ||||
| EV/EBITDA | ||||
This data is available for Pro users. Sign up to see all ManyPets acquisitions and their M&A valuation multiples. Start Free Trial | ||||
ManyPets Competitors
ManyPets competitors include listed companies like ZhongAn and Baige Online, and private ones like Marshmallow, Kin Insurance, bolttech and Cover Genius.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $500M | - | $2B | 4.0x | ||
| Private | $202M | - | $2B | 10.1x | ||
| Private | - | - | $2.1B | - | ||
| Private | - | - | $1.9B | - | ||
| Publicly listed | $5.2B | $317M | $2.1B | 0.6x | ||
| Publicly listed | $183M | ($5M) | $1.8B | - |
ManyPets Public Comps
ManyPets is still privately-owned, but its public comps include ZhongAn, Baige Online, Ethos Insurance, Clover Health, Exzeo Group, Trupanion, Slide Insurance Holdings, Rasan, Hippo Insurance and weSure.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $5.2B | $317M | 0.6x | 0.6x | 9.5x | 16.8x | |||
| $183M | ($5M) | 9.9x | - | (348.1x) | - | |||
| $388M | $79M | 5.6x | 3.4x | 27.2x | 19.2x | |||
| $1.9B | ($84M) | 1.1x | 0.8x | (25.8x) | 34.1x | |||
| $217M | $113M | 6.3x | 6.2x | 12.1x | 12.0x | |||
| $1.4B | $39M | 0.6x | 0.5x | 21.2x | 10.4x | |||
| $1.2B | $605M | 1.5x | 1.0x | 2.8x | 2.7x | |||
| $174M | $73M | 16.1x | 11.0x | 38.6x | 25.9x | |||
This data is available for Pro users. Sign up to see all ManyPets competitors and their valuation data. Start Free Trial | ||||||||
Common questions about ManyPets
| When was ManyPets founded? | ManyPets was founded in 2012. |
| Where is ManyPets headquartered? | ManyPets is headquartered in London, United Kingdom. |
| Is ManyPets publicly listed? | No, ManyPets is a private, VC-backed company. |
| What is ManyPets' valuation? | ManyPets was last valued at $2B in its Series D in June 2021. |
| How much funding has ManyPets raised? | ManyPets has raised $483M across 4 funding rounds. |
| What was ManyPets' last funding round? | ManyPets' last funding round was a $350M Series D in June 2021, led by EQT. |
| Who are ManyPets' investors? | ManyPets' investors include Octopus Ventures, Munich Re Ventures, CommerzVentures, FTV Capital, Crispin Odey, EQT, Willoughby Capital, Hedosophia, JamJar Investments and Evelyn Bourke. |
| What is ManyPets' revenue? | ManyPets' latest recorded revenue is $85M (June 2021). |
| What is ManyPets' revenue multiple? | ManyPets' latest valuation implies a 23.5x revenue multiple ($2B valuation on $85M of revenue). |
| Which companies are comparable to ManyPets? | Companies comparable to ManyPets include Marshmallow, Kin Insurance, bolttech, Cover Genius, ZhongAn and Baige Online. |
| How many companies has ManyPets acquired? | ManyPets has acquired 4 companies, including Digital Edge Insurance Company, VetBox, Cotidia and Brooks Braithwaite (Sussex) Ltd. |
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