Glenn Polyn//March 22, 2022//
Glenn Polyn //March 22, 2022//
Press release: Spot & Tango
Spot & Tango, the premium pet health and wellness brand, recently announced a combined $51.75 million in funding after raising a $38.5 million Series B and $13.25 million Series A, led by Valor Equity Partners. Spot & Tango is utilizing this capital to advance research & development, expand its product offering and introduce new recipes to make healthy pet food products accessible to all households. The subscription-based service grew by over 250% in 2021 and has delivered over 15 million meals to pet parents across the country since its launch in 2018, in both its fresh and innovative “fresh dry” product formats.
Since the start of the pandemic, one in five American households adopted a cat or dog, totaling 23 million new pet parents. With the boom of new pet adoptions, the American Pet Products Association (APPA) reported a 9.7 percent increase in pet food and treat sales, which accounted for 40 percent of total pet care sales in the U.S.
“We fundamentally believe that health & wellness for pets is a right, not a luxury. Our mission is to lead the market in innovation by building a platform of products, services and community content that meet the needs of pets and their parents nationwide,” said Russell Breuer, Founder and CEO. “Our partnership with Valor has been pivotal as we have scaled our team, supply chain and operations to support rapid growth.”
After successfully launching two varieties of their category-leading “fresh dry” product, UnKibble, in 2020, Spot & Tango will be adding a new grain-free Cod & Salmon recipe to accommodate more dogs with sensitive stomachs. All of Spot & Tango’s recipes are formulated by animal nutritionists, contain only fresh, high-quality, whole ingredients, and exclude the artificial additives commonly found in kibble. Products are minimally processed, cooked at low heat, and personalized to ensure dogs receive the appropriate amount of nutrition per meal.
“Spot & Tango is building a brand that meets growing consumer preferences for pet health & wellness, convenience and personalization. The company is a pioneer in new product development, creating solutions that solve real problems for pet parents,” said Jon Shulkin, Partner and Co-President of Valor Equity Partners. “We are thrilled to partner with the Spot & Tango team at this key inflection point, as they expand their portfolio and build out the supply chain to address the needs of dogs and consumers across the country.”
Spot & Tango supports shelters and rescues through a new program launched in 2022 that donates high quality meals to dogs waiting for adoption. The program eases the cost burden of food to foster and adoptive pet parents while providing peace of mind and access to top nutrition.