Trupanion
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Russell 2000 component
S&P 600 component
| Company type | Public |
|---|---|
| Nasdaq: TRUP Russell 2000 component S&P 600 component | |
| Industry | Pet insurance |
| Founded | 1999 |
| Founder | Darryl Rawlings |
| Headquarters | , U.S. |
Area served | Puerto Rico, Canada and The United States |
| Services | Insurance |
| Revenue |  US$904.1 million (2022) |
 -US$43.001 million (2022) | |
| -US$44.6 million (2022) | |
| Total assets | US$671 million (2022) |
| Total equity | US$305 million (2022) |
| Parent | Vetinsurance International, Inc. |
| Website | trupanion |
Trupanion, Inc. is a pet insurance provider headquartered in Seattle, Washington. Established in 1998, Trupanion operates across the United States, Canada, Australia, and Puerto Rico. The company offers coverage for pets and is self-underwritten by the American Pet Insurance Company (APIC).[1]
Originally known as Vetinsurance, Trupanion was founded in Canada by current chairman Darryl Rawlings in 1999.[2]
Trupanion raised $22 million in 2007 from investors including Maveron, RenaissanceRe, and a large private equity group.[3] Subsequently, a Series B round was completed in 2008, followed by a $9 million Series C round of financing led by the Highland Consumer Fund in 2011.[4][5]
In 2014, Trupanion went public, raising $71 million during its initial public offering (IPO).[6] The company continued its growth trajectory, culminating in October 2020 with the completion of a Private Investment in Public Equity (PIPE) funding round amounting to $200 million. By the end of the 2020 fiscal year, Trupanion reported revenue of $502 million.[7]
PHI Direct and Furkin
In 2021, Trupanion introduced two new pet insurance products, namely PHI Direct and Furkin.
These insurance offerings were specifically launched in Canada and were designed to provide pet medical coverage through online platforms, offering various price points to cater to different needs and budgets.[8][9]