ITV has invested in pet health and wellness company PitPat, adding the company to its Media for Equity portfolio in its second investment of 2023.
As part of ITV Adventures Invest ITV has agreed to subscribe for £3 million of shares in Pitpatpet Ltd, with the option to subscribe for a further £1m of shares, in return for advertising inventory across ITV’s channels and ITVX.
PitPat helps pet parents keep their dogs happy, healthy and safe with their subscription-free GPS tracker, dog activity monitor and perfectly-portioned dog food.
ITV says its investment will help PitPat build mass market brand awareness by bringing the brand to millions of viewers.
“We’re delighted to welcome ITV AdVentures as an investor at this exciting growth stage for the business,” said founder & CEO Andy Nowell.
“Their extensive viewership and strategic media expertise will enable us to reach a nation of dog lovers and drive significant category awareness, cementing PitPat as the go-to brand for pet parents. We have been thoroughly impressed by their collaborative approach and are confident they will be an instrumental partner in our growth.”
With rich data and insights from over 100,000 dogs, PitPat says it is at the forefront of pet tech, creating products that help pet parents take away the guesswork and provide the best possible care for their individual pets.
Based in Cambridge, the company has a multidisciplinary team of technologists, vets and dog-lovers and delivers its services to dog owners directly and through partnerships with leading pet insurers, food brands and other pet businesses.
“PitPat is a truly innovative, customer centric brand bringing the insights of data, monitoring and tracking to help pet owners and I’m thrilled that the company is becoming part of ITV’s Media for Equity investment portfolio,” said Sheena Amin, director of ITV AdVentures.
“PitPat is at an important inflection point in its scaling journey, having created a market-leading product for both dog activity monitors and GPS trackers. We know that ITV viewers index highly as pet owners and I’m confident that we can help drive category awareness for pet GPS trackers and put PitPat on the map at the same time.
“I’ve always been thoroughly impressed by Andy and his team and have full faith in their ability to go after a huge market opportunity and win in this space.”