PetCloud has kicked off a $2m equity crowd-funding campaign to continue growth plans

Deb Morrison sold her Brisbane home to start a pet-sitting venture that is now set to raise $2m as it rolls out Australia’s first dedicated pet taxi.

Pet services online platform PetCloud is set to continue its growth momentum after last years Covid-19 hiccup kept people at home.

The company has kicked off a $2m equity crowdfunding campaign offering investors the chance to own a slice of the business and have a share in the more than $13 billion annually spent by Australians on pet services and products.

PetCloud chief executive and founder Deb Morrison said the crowd raising was an opportunity for investors to buy into a growing start-up.

“We’re looking to expand all over Australia with more pet owner services and with the travel sector picking up and the vaccine rollout there will be more growth,” she said.

“Australia has one of the highest rates of pet ownership in the world and thanks to the pandemic, which reminded us how much we need pets in our lives, even more Australians have welcomed a pet into their home.

“With more pets than people in Australia, pet services will always be in demand and PetCloud satisfies this growing demand by tapping into the gig economy to ensure that all pet parents can access trusted pet care in their community.”

PetCloud chief executive and founder Deb Morrison with her caboodle Milly.

With a background in digital consulting Ms Morrison came up with idea of PetCloud when she couldn’t find anyone to look after her dog while travelling for work.

She sold her Brisbane home to fund the launch of the site in 2015 and with RSPCA Queensland on board as a partner, PetCloud now has more than 30,000 primarily dog and cat sitters across Australia.

However, Ms Morrison said with travel and holidays affected by Covid-19 PetCloud suffered “a 12-month hit”.

Despite last year, net sales have tripled from 2017-2020 as the platform grew at a compound annual growth rate of 48 per cent, while active users on the platform have risen by 44 per cent on average year on year.

This year PetCloud launched Australia’s first animal-only rideshare service — PetCloud’s pet taxi app — a national pet-friendly directory and an e-commerce store with gifts for pet lovers and their pets.

Ms Morrison said they have a blog website with “an enormous amount of traffic’ which they are looking to monetise later this year. They also have a partnership with tourism giant Wyndham Destinations and were in discussions with other groups.

“With pet ownership on the rise, spending on pet care and services is also on the up,” she said.

“Overall spending on pets in Australia has gone up every year since 1994 and it has grown 4.6 per cent annually over the past 10 years, which is three times faster than overall consumer spending.”

The Australian pet services industry is worth more than $13bn a year.

Currently PetCloud.com.au has more than 120,000 active subscribers and has received more than 3.4 million sessions.

“As a dog owner, I know how much people love their pets so the most important element of this business has always been making sure that it is a trusted service,” Ms Morrison said.

“Right from the beginning we partnered with Australia’s most respected animal welfare charity, RSPCA Queensland, to ensure that PetCloud is the most responsible and caring pet platform in Australia.

“All our sitters, walkers and drivers have had police checks, are trained in animal handling and insured. They are also animal-lovers who go above and beyond to look after other people’s pets as if they were their own.”

The expressions of interest period for potential crowdfunding investors will close on June 14 and the live offer is expected to be up and running to day after. There have been more than 450 expressions of interest so far.

Ms Morrison said PetCloud has had success with seed rounds in recent years with investment from F45’s founding investor Marc Marano, and Scale Investors, who invest in exceptional female founders.

There are almost 4 million pet cats in Australia.

According to Birchal, which is running the equity crowdfunding platform, female-led or female co-founded businesses have raised around 25 per cent more in equity crowdsourcing campaigns, and attracted more than three times as many investors than businesses that did not have a female founder or co-founder.

Mr Morrison said the crowdfunding campaign was an opportunity to level the investment playing field while still retaining its social impact status.

“One of the most important aspects of a crowdfunding campaign is that it allows us to grow the business in a way that won’t compromise its core values of being a social impact organisation and also ensures that PetCloud remains Australia’s most trusted pet services platform,” she said.

“As a social impact start-up, PetCloud has a positive impact on the lives of people and pets.

”Every day, we hear stories from PetCloud’s community about how working with animals has enriched their lives whether it has helped someone struggling with depression find work that gets them out of bed in the morning or given a single mum or senior some financial freedom.

“I’m particularly proud of the work we do with NDIS providers which ensures that everyone can enjoy the companionship of a pet, and victims of domestic violence who can turn to our pet sitters to keep their animals safe while they access the care and support they need.”