Local startup Jiobit began gaining traction with consumers when it launched a small, wearable tracker for children. But when customers began asking if they could also use the device on their pets, Founder and CEO John Renaldi saw a market opportunity for his second device.
Just this week, he debuted a prototype for Jiobit for Pets, which will be available for pre-order this fall. Much like the original Jiobit, the device uses a combination of GPS and beacon technology to track the location of who’s wearing it while simultaneously sending that information to a smartphone app that lets parents and pet owners monitor locations.
The device is about the size of a quarter and can let users know if their child or pet is inside or outside. Additionally, the battery lasts for up to two months.
“We started to launch the product for kids, and as we went into pre-orders, we came to realize pretty quickly that a lot of our consumers that were buying the kids product, were in fact buying it to use on pets,” Renaldi said. “In the back of our minds, we always thought pets would be a great first step, but we didn’t really have any data other than our intuition.”
Renaldi, a former Motorola executive, launched Jiobit in January 2016 with the mission to help put parents at ease by giving them an “extra set of eyes.” Back in January, the startup raised $3 million in funding and is up to about $4.6 million now. Investors include Chicago-based venture capital firms, such as MATH Venture Partners and Inflection Equity.
Renaldi wouldn’t disclose how many devices he’s sold, but said the first set of pre-orders sold out within the first day. They are now working on their second batch of pre-orders, which are slated to deliver in December.
Jiobit for Pets will retail for the same price as the original Jiobit, which costs $99. But it will include a new feature that alerts owners when their pet is in a hot environment, like a car. It will also track pets’ physical activity.
Pet tracking devices like Whistle and Tractive are already popular options among pet owners looking to monitor their pets’ whereabouts, but Renaldi says Jiobit for Pets will compete in the space because his device is smaller and more conducive for tinier pets, like puppies and cats.
Looking ahead, Renaldi said he expects Jiobit for Pets to make up about half of overall business, a hefty portion considering it’s not the original concept. But the market is there and pet-owners can be fairly obsessed with what their pets are doing when they’re not around.
“People treat pets like children, sometimes better,” Renaldi said.
