Trupanion
| Company type | Public |
|---|---|
| Industry | Pet insurance |
| Founded | 1999 |
| Founder | Darryl Rawlings |
| Headquarters | Seattle , United States |
Area served | United States, Canada, Australia, Puerto Rico |
| Products | Pet insurance, PHI Direct, Furkin |
Trupanion, Inc. is a provider of pet insurance headquartered in Seattle, Washington. Founded in 1999 by entrepreneur Darryl Rawlings, the company operates across the United States, Canada, Australia, and Puerto Rico. Trupanion delivers its insurance solutions through its self-insured division, American Pet Insurance Company (APIC).
History
Initially launched as Vetinsurance in Canada by Darryl Rawlings, Trupanion attracted substantial capital to accelerate its growth. In 2007, it raised $22 million from investors such as Maveron and RenaissanceRe. Further financing rounds included a Series B in 2008 and a $9 million Series C led by Highland Consumer Fund in 2011.
The company went public in 2014, securing $71 million via its initial public offering to support its expansion efforts. In October 2020, Trupanion completed a $200 million Private Investment in Public Equity (PIPE) transaction. By the conclusion of fiscal year 2020, the firm reported revenues of $502 million, demonstrating significant growth and a strong position within the pet insurance sector.
PHI Direct and Furkin
In 2021, Trupanion introduced two new insurance products—PHI Direct and Furkin—aimed at the Canadian market. These digital offerings provide pet health coverage with various pricing options designed to meet a wide range of consumer preferences and budgets.
Recognition and Company Culture
Trupanion has received numerous awards emphasizing its employee-centric environment. In 2010, NWJobs.com honored it as Seattle’s 'Most Pet-Friendly Company' for workplace policies that allow pets and offer full-time dog walking services. Additionally, The Seattle Times acknowledged Trupanion with the 'Most Unusual Perk' award for providing employees with pet insurance featuring a $0 deductible.
The company also earned 'Best Place to Work' and 'Best Local Business' distinctions in KOMO News’s Best of KOMO Communities survey. In 2011, The Huffington Post recognized Trupanion among nine U.S. firms fostering healthy work-life balance, alongside companies like Google, Netflix, and Zappos.
In 2012, The Puget Sound Business Journal awarded Trupanion the Large Company Bronze Medal in Washington's Best Workplaces, highlighting its robust corporate culture and effective leadership within the industry.
Charitable donations
Trupanion partnered with the American Humane Association in May 2011 to support the Second Chance Fund, which provides financial resources to animal welfare groups. In August 2012, the company sponsored the service dog category at the American Humane Association Hero Dog Awards, reflecting its dedication to service animals.