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- Seek Pet Foods
Seek Pet Foods Valuation, Funding & Investors
Seek Pet Foods is valued at $462M as of August 2024.
Last Seek Pet Foods valuation
$462M
Undisclosed stage · Aug 2024
Last Seek Pet Foods funding round
$140M
Undisclosed stage · Aug 2024
Cumulative funding Seek Pet Foods raised
$225M
across 3 funding rounds
Key investors in Seek Pet Foods
Boyu Capital
Advent International
GP Capital
RiverHead Capital
Confitop Capital
Sino Pacific Capital
Seek Pet Foods Overview
About Seek Pet Foods
Seek Pet Foods is a China-based manufacturer of natural pet nutrition products under the Shuaike brand. The company produces dog and cat foods using American micro-powder puffing and fresh meat emulsification technologies combined with local chicken, duck, organic vegetables, and fruits. Seek Pet Foods exports kibble and wet foods to international markets, emphasizing fresh meat content without artificial additives.
Founded
2012
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Valuation
$462M (Aug 2024)
Seek Pet Foods Valuation
Seek Pet Foods is currently valued at $462M, based on its undisclosed-stage round in August 2024.
The $140M round was led by Advent International, with participation from Boyu Capital and Yuan Fang.
Seek Pet Foods valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Aug 2024 | Undisclosed stage | $462M |
Seek Pet Foods Funding History
Seek Pet Foods has raised a total of $225M across 3 funding rounds.
Seek Pet Foods' first fundraising round was a $11M strategic investment round in November 2021. The most recent completed round was a $140M undisclosed-stage round in August 2024.
Seek Pet Foods funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2024 | Undisclosed stage | Advent International (lead); Boyu Capital; Yuan Fang | $140M | $462M | Seek Pet Foods, founded in 2012 and headquartered in Shandong, China, is the leading third-party manufacturer of kibble in China, producing premium and mid-end pet food products including kibble, baked food, freeze-dried food, wet cans, wet pouches, and treats. It serves major Chinese and global pet food brands with an integrated supply chain, advanced manufacturing facilities, and strong R&D expertise. On August 12, 2024, Advent International announced an equity investment in Seek, joining founder Fang Yuan and existing shareholder Boyu Capital to accelerate growth in China's pet food market, which reached RMB 69 billion (about $9.6-9.7 billion USD) in 2023. Advent's investment focuses on supporting product innovation, particularly in functional pet food, and expansion into domestic and international markets, including Southeast Asia as a primary export region. Advent, a global private equity firm with $94 billion in assets under management, has prior pet industry investments including Globus Events (Pet Fair Asia organizer), Partner in Pet Food (PPF), and National PetCare Centers. This investment aligns with Advent's strategy to increase exposure to Greater China consumer sectors via its GPE X fund, following a proprietary process after identifying Seek years earlier. Seek's growth potential stems from rising pet ownership, packaged pet food penetration, and premiumization trends in China. |
| May 2022 | Undisclosed stage | Boyu Capital (lead); Confitop Capital (lead); RiverHead Capital; GP Capital; MANGOFUN; Wuchan Zhongda Group Co; Sino Pacific Capital | $75M | - | Seek Pet Foods (Chinese: 帅克), founded in 2012 and headquartered in Shandong, China, is a leading pet food supplier specializing in research, development, production, and OEM services for high-end pet food and snacks, including kibbles, baked food, freeze-dried products, wet food, and treats. It serves brands like RedDog and MEOW FANS through a robust supply chain leveraging high production capacity, raw materials, logistics, and R&D, including a 10,000-square-meter R&D lab with 66 patents in animal nutrition. The company completed a Pre-IPO financing round on approximately May 26, 2022, raising CNY 500 million (USD 75 million), led by Confitop Capital and Boyu Capital, with participation from Riverhead Capital (also referenced as RiverHead Capital), Mango Fund (MANGOFUN), Sino Pacific Capital, GP Capital, Linyi City Fund (potentially related to Wuchan Zhongda Group), and others. Proceeds were allocated to building a new factory and R&D testing center to strengthen high-end pet food processing capabilities. Seek has attracted multiple funding rounds prior to 2022, with Jinding Capital as an early investor in two prior rounds totaling millions of CNY, becoming the second-largest shareholder, and advising a strategic shift from branding to B2B factory operations and services. The pet food market in China, valued at RMB 69 billion in 2023, shows strong growth driven by pet population increases, rising packaged food penetration, and higher spending, with local manufacturers like Seek gaining from substitution trends over imports amid economic pressures. Seek faces competition from domestic players such as Parker Pet Food, Sanpo, and Wanpy. In August 2024, Advent International acquired a controlling stake (under 50%) in Seek alongside founder Fang Yuan and Boyu Capital, which increased its position, facilitating exits for earlier VC funds including those from the 2022 round; this transaction was reportedly valued over 1 billion yuan, marking the largest pet sector deal in China that year. Advent aims to support product innovation in functional pet foods, domestic expansion, and international growth, leveraging Seek's advanced facilities and supply chain. |
| Nov 2021 | Strategic investment | Cheerwin Group (lead) | $11M | - | - |
Who has invested in Seek Pet Foods?
10 investors have backed Seek Pet Foods across its funding rounds, including Boyu Capital, Advent International, GP Capital, RiverHead Capital, Confitop Capital and Sino Pacific Capital.
Lead investors include Advent International, Boyu Capital, Confitop Capital and Cheerwin Group.
Seek Pet Foods Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | May 2022 | ||
| 1 | Participant | May 2022 | ||
| 1 | Participant | May 2022 | ||
| 1 | Lead | May 2022 | ||
| 1 | Participant | May 2022 | ||
| 1 | Participant | Aug 2024 | ||
| 1 | Lead | Aug 2024 | ||
| 1 | Participant | May 2022 | ||
This data is available for Pro users. Sign up to see all 10 Seek Pet Foods investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialSeek Pet Foods Competitors
Seek Pet Foods competitors include listed companies like Uac Of Nigeria and Petco, and private ones like The Honest Kitchen, The Farmer's Dog, Drools and Wag.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $500M | - | ||
| Private | - | - | $504M | - | ||
| Publicly listed | $258M | $23M | $370M | 1.1x | ||
| Private | $100M | - | $600M | 6.0x | ||
| Private | $61M | - | $650M | 10.7x | ||
| Publicly listed | $6B | $317M | $687M | 0.5x |
Seek Pet Foods Public Comps
Seek Pet Foods is still privately-owned, but its public comps include Prodalim Investments, Oceana Group, HelloFresh, Unilever Nigeria, Astral Foods, Wisynco Group, Fonterra Shareholders' Fund, Raisio, Seprod and Vital Farms.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| - | - | - | - | - | - | |||
| $615M | $96M | 1.0x | 1.0x | 6.2x | 6.6x | |||
| $7.8B | $246M | 0.0x | 0.0x | 1.5x | 0.8x | |||
| $161M | $34M | 2.9x | 2.4x | 14.1x | 11.0x | |||
| $1.4B | $96M | 0.3x | 0.3x | 4.4x | 4.6x | |||
| $415M | $51M | 1.2x | - | 9.5x | - | |||
| $38M | - | 12.7x | 0.0x | - | 0.4x | |||
| $258M | $48M | 1.4x | 1.4x | 7.5x | 8.4x | |||
This data is available for Pro users. Sign up to see all Seek Pet Foods competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Seek Pet Foods
| When was Seek Pet Foods founded? | Seek Pet Foods was founded in 2012. |
| Where is Seek Pet Foods headquartered? | Seek Pet Foods is headquartered in Shandong, China. |
| Is Seek Pet Foods publicly listed? | No, Seek Pet Foods is a private, VC-backed company. |
| What is Seek Pet Foods' valuation? | Seek Pet Foods was last valued at $462M in its undisclosed-stage round in August 2024. |
| How much funding has Seek Pet Foods raised? | Seek Pet Foods has raised $225M across 3 funding rounds. |
| What was Seek Pet Foods' last funding round? | Seek Pet Foods' last funding round was a $140M undisclosed-stage round in August 2024, led by Advent International. |
| Who are Seek Pet Foods' investors? | Seek Pet Foods' investors include Boyu Capital, RiverHead Capital, GP Capital, Confitop Capital, MANGOFUN, Yuan Fang, Advent International, Wuchan Zhongda Group Co, Cheerwin Group and Sino Pacific Capital. |
| Which companies are comparable to Seek Pet Foods? | Companies comparable to Seek Pet Foods include The Honest Kitchen, The Farmer's Dog, Uac Of Nigeria, Drools, Wag and Petco. |
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