Online pet store Pet Circle is looking to raise $200 million to $250 millionin its Series C round, at a $1 billion valuation.
The Australian Financial Review (AFR) reported that $100 million is expectedto come from an Australian fund and another from a US investor.
The $1 billion valuation would value the business, founded by Michael Frizelland James Edwards, at about three-times revenue.
AFR speculate that of the Australian funds, TDM Growth Partners would be alogical fit as it favours later stage investments. Other potential suitorscould be Blackbird Ventures, Square Peg Capital, or Hostplus.
As for the US investors, there is a variety that include, but are not limited,to Tiger Global, Dragoneer, T.Rowe Price, Insight Partners, and AccelPartners.
Tagged: Pet Circle
Previous Dogs may suffer separation anxiety as owners return to work
Next APCA factsheet on bloat/Gastric Dilatation and Volvulus