Native Pet, a St. Louis-based pet nutrition startup that makes and sells all-natural supplements for dogs, plans to expand its operations after raising $11 million from investors.
Native Pet said Thursday it has closed on an $11 million Series B funding round led by Cavu Consumer Partners, a consumer-focused investment firm with offices in Santa Monica, California, and New York. Companion Fund, which is affiliated with Mars Petcare, also participated in the financing.
The Series B funding round follows a $6 million Series A round Native Pet announced in March 2022 that was also led by Cavu Consumer Partners. The fresh funding comes as Native Pet has consistently grown sales, adding to its team and expanding into new sales channels, said co-founder and CEO Dan Schaefer.
“The business has performed exceptionally well. We did what we said we’re going to do and that was in a really tough market environment,” he said.
Founded in 2017 by Schaefer and Pat Barron, Native Pet has developed a range of natural ingredient pet supplements. Its products include dog chews, powders, broths and oil designed to help with issues such as allergies, digestion and calming. The startup’s origins stem from Schaefer’s struggle to find healthy, all-natural food options for his own dog.
Native Pet in recent years has rapidly expanded its headcount and its sales distribution. Schaefer said the company had five employees when raising its Series A funding round and expects to have 25 employees by the end of the third quarter this year. He said that in 2021, the startup sold most of its products through online retailer Amazon and has since added new sales channels. That includes having its products offered on pet products e-commerce website Chewy and in 600 Target locations. It also plans to launch nationally with another retailer, Schaefer said.
Sales for Native Pet have grown about two and half times year over year consistently for the business, Schaefer said. He said the company’s launch into retail has been aided by a rebranding of its packaging for store shelves. The brand also has put a focus on appealing to younger consumers, using digital platforms like Tik Tok and YouTube to market its products.
“The new look and feel of the brand tells a really great story in the store. We have some eye-catching packaging that’s helping us stand out,” Schaefer said. “We have a different audience than our competitors. We lean very heavily into the millennial and Gen Z pet parent, which is the fastest growing segment of the category."
Native Pet’s rebranding initiative was led by Uncommon, an in-house agency that’s part of Cavu Venture Partners.
Schaefer said Native Pet plans to continue adding to its team as it seeks to boost sales and distribution. The startup expects to add employees across its operations, with job openings for roles in finance, marketing and e-commerce to be posted in the coming months, its CEO said. About half of Native Pet’s staff is based locally, Schaefer said. Native Pet has its headquarters at 2315 Locust St. in Downtown West.
As it expands, Native Pet will also continue to put a focus on product development to offer a robust selection of products for pet wellness, Schaefer said.
“Our goal is to develop products that help you customize your pet’s health and wellness routine,” he said. “Supplements are a very targeted part of that journey, but I think we are going to start taking a broader view over time of what should be the complete (dog) bowl and what are the type of products that your dog eats that should be healthy and made with clean ingredients and should be improving their health and wellness.”
