How profitable are GPS tracking companies
Tractive receives investment from trivago founders and introduces GPS trackers for cats
LINZ, December 19, 2018. The Upper Austrian company Tractive, world market leader in GPS tracking for dogs and cats, receives a seven-figure investment from Monkfish Equity, the investment company of the trivago founders. At the same time, Tractive is introducing a brand new GPS tracking device for cats.
Monkfish Equity invests in Tractive to accelerate the rapid growth even further and to help open up new markets.
‘With Monkfish we have brought on board a partner who knows how to take a company to the next level. The incredible marketing know-how and understanding of successfully and profitably scaling a company in just a few years will help us tremendously. ‘, Says Michael Hurnaus, founder and CEO of Tractive.
‘Dogs and cats are full family members in many households. This development is unbroken. In addition, the pet market is still in its infancy with a view to digital possibilities. We are pleased to be able to support Tractive, the pioneer in the digitization of the pet industry, in its growth, ’said Malte Siewert, partner at Monkfish Equity.
Monkfish Equity holds numerous investments in startups, including Calm.com, Freshly.com, Vinted.com, Delivery Hero, Hello Fresh, Alphapet and X24 Factory. With this transaction, the investor acquires 3% of the successful and rapidly growing company from Pasching. The parties have agreed not to disclose the purchase price.
New product, new market
Tractive's focus in recent years has been on dog owners. A few weeks ago, the company introduced the world's first GPS and activity tracker specially developed for cats. This allows cat owners to see where the animal is at any time and to track when and where the cat spends how much time. ‘Many cat owners wonder where their cat hangs around all day, which neighbor feeds them, and how far they are from their home. Now there is an answer. ’, Says Wolfgang Reisinger, CFO of Tractive. The new product is already available from 49.99 on www.tractive.com.
The new product will be officially presented at the Consumer Electronics Show (CES) at the beginning of January 2019 in Las Vegas. Tractive is represented there for the seventh time.
Tractive develops GPS trackers for dogs and cats that enable location via smartphone app or browser. It is the declared goal of Tractive to strengthen the bond between pets and their owners and to contribute to mutual safety.
Tractive was founded in 2012 by Michael Hurnaus, Michael Lettner and Michael Tschernuth as well as by the founders of the successful company Runtastic. Other investors include European Business Angel of the Year Hansi Hansmann and ex-racing driver and investor Harold Primat. The company, based in Pasching (Austria), already has customers in over 120 countries and currently employs around 70 people.
Press kit & contact
The full press kit is available here: Tractive & Monkfish
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