PetScreening, a company that offers the rental housing industry’s first and leading pet policy management software at no cost to property owners and managers, announced it has received $80 million in Series B funding. This funding round was led by leading technology-focused investment firms Volition Capital and Guidepost Growth Equity.
PetScreening will use this funding round to continue growing the company’s market presence, building its team, and bringing innovative products focused on maximizing pet and assistance animal-related compliance to market.
PetScreening now serves over 7 million rental units nationwide in the multifamily, single-family, student, affordable, manufactured, and military base sectors. Since launching in 2017, the company has helped owners and operators capture nearly $300 million in pet-related revenue that otherwise would have been lost. Through its platform, over 1.3 million reasonable accommodation requests for assistance animals have been created.
PetScreening currently has over 135 employees and occupies 32,000 square feet of modern, pet-friendly office space in Mooresville, N.C. And the company plans to expand its headcount this year.
PetScreening makes it simpler for renters to share information about their pets while helping property owners apply pet policies fairly and consistently. And through the PetScreening platform, a rental applicant enters information about their pets into the only centralized pet-screening database to analyze rental housing-related risk. The platform weighs various pet-related factors, including a community’s specific restrictions, such as breed, weight and age.
This offers property owners with a streamlined process to comprehensively assess a specific pet and pet owner who wants to live at a rental property. And non-pet owning residents fill out a free profile to demonstrate they are aware of the community rules and will adhere to them should they acquire, foster or sit for a pet/animal during their stay. PetScreening also evaluates reasonable accommodation requests for service animals and support animals within the rental housing industry.
KEY QUOTES:
“We could not be more appreciative of the support of these highly respected growth equity firms. PetScreening has built a clear reputation as the industry’s premier pet management and assistance animal compliance platform. We’ve done this in large part because our solutions and our team offer housing providers unparalleled support in complying with the Fair Housing Act and other applicable regulations. As we move forward, we’re excited about our ability to innovate and provide clients even more valuable tools to ensure compliance, reduce risk and manage onsite pet and animal populations.”
- John Bradford, founder and CEO of PetScreening
“After an extensive review of the pet management and assistance animal compliance market, it was clear that PetScreening is the category leader. The company has built an outstanding reputation among property owners and managers by offering the most sophisticated compliance capabilities in the industry while maintaining a seamless experience for renters. We are excited to partner with John and the PetScreening team as they continue to expand their market leadership.”
- Chris Cavanagh, General Partner at Guidepost Growth Equity
“PetScreening is pioneering how property managers and pet owners navigate pet policies and risk management. The team is executing against its vision of creating a holistic pet management platform for the rental housing market and has quickly become the gold standard in the industry. PetScreening has the domain expertise, market-leading solution and resources to capture this significant untapped market opportunity with its strong value proposition for both operators and consumers.”
- Roger Hurwitz, Managing Partner at Volition Capital
