NEW YORK — Fi, maker of smart dog collars, announced $30 million in Series B funding led by Longview Asset Management, with participation from Advance Venture Partners (AVP), Gokul Rajaram as well as existing investors RRE Ventures, Lerer Hippeau, and Freestyle.
The money raised will be used by Fi to hire more employees and support the development of new features and capabilities for the Fi Smart Dog Collar.
“It’s been a great experience working with Fi since we led the seed round in 2017,” says Andrea Hippeau, Principal at Lerer Hippeau. “We’ve seen the product go from prototype to launch and now mass adoption by pet parents. We cannot wait to see where this next round of funding will take the company.”
Since launching in March 2019, Fi has quickly grown into the top smart dog collar option for dog parents. Continuing to lead the charge in the space, Fi released in Q4 the Fi Series 2 to improve its already unparalleled battery life (up to three months) and provide faster and more reliable escape detection. The company’s high-quality product has generated widespread user adoption — the average American now lives only two miles away from a Fi collar. The Fi 2 collar is priced at $149.
Fi has saved thousands of dogs’ lives by providing real-time escape notifications and accurate GPS tracking to dog parents. The Fi smart collar also enables parents to monitor the health of their dogs and compare their activity to other dogs on the Fi network.
“As a pet owner myself, I see the massive need for Fi loud and clear,” says Silicon Valley product leader and angel investor Gokul Rajaram. “I’m excited to support Jonathan and the Fi team as they build a product that will forever change the relationship between pets and their humans.”
“I’m incredibly excited to bring Chuck Murphy of Longview and the new investors on board,” says Jonathan Bensamoun, Founder and CEO of Fi. “Chuck and Longview have invaluable experience as public and private investors in the pet space. They were sitting front row through the acquisition of Chewy by PetSmart in 2017 in what is to this day a flagship deal for the industry. I couldn’t think of better partners to take the company to the next level.”