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Companion Protect Closes $20.25M Extension Round to Fuel Growth

Companion Protect announced it received a $20.25 million Series A extension round. Photo credit: Will Crow.

Posted August 14, 2024

Leawood-based Companion Protect announced it has closed a $20.25 million extension round from Series A investors.

Last year, Companion Protect received a $27 million Series A financing round from Avanta Ventures, Liberty Mutual Insurance, Old Republic International Corporation, and Stray Dog Enterprises.

The proceeds from the recent Series A extension round will fuel product and partner expansion, along with digital innovation to enhance the customer experience, according to a release.

“This level of investment from our strategic partners demonstrates incredible belief in our purpose to ensure better outcomes for pets because pets make us happy,” CEO and co-founder Chuck Laue said in the release. “Additional investment reflects our investors’ confidence in the Companion Protect team to deliver customized pet healthcare solutions to our channel partners and their customers.”

Founded in 2015, Companion Protect is a B2B2C pet insurance and pet wellness program administrator. The company has worked with insurance companies, including Liberty Mutual, Safeco, and CSAA Insurance Group in the past for its pet health programs.

Companion Progent also said it has recently contracted with another “Top 5 insurer” to launch a new pet insurance program in the coming months.