Odie Pet Insurance Announces $3 Million Funding Round and Expands Executive Team

NEW YORK, Dec. 6, 2022 /PRNewswire/ -- Odie Pet Insurance, a full-service pet health insurance company on a mission to democratize pet insurance by bringing a new generation of pet owners into the market, announced that it recently closed a $3 million round of funding.

The funding was led by RedBird Capital Partners, a New York City private equity firm with a global footprint. The funding will be used for continued investment in technology, product, and marketing — providing a streamlined platform for greater coverage flexibility, stable and predictable annual premiums, and shared values around pet wellness.

In addition, Odie has announced two new members of the executive team, including Debra Hyman as Chief Marketing Officer and Bryant Maroney as Chief Technology Officer.

Hyman has spent over 20 years leading consumer and sales marketing for startups across media, wellness, and commerce. She will be responsible for building the company's B2B and B2C marketing functions, overseeing awareness and acquisition efforts, and strategic growth initiatives.

Maroney will be accountable for leading technology strategy, formulation, development, and cross-functional delivery of Odie's software systems. Previously, Maroney was CTO at Spot Pet Insurance, where he led software development and product teams to hyper-growth development of new products, innovative systems architecture, and data modeling strategies.

"Over the past few years, we've seen a tremendous increase in pet ownership, which has led to unprecedented momentum and higher demand for the product via new distribution outlets, strategic partnerships, and embedded offerings," said Miles Thorson, Co-Founder and CEO of Odie Pet Insurance. "Our vision is to enable pet parents to have more control over their finances and the overall wellness of their pets."

"I believe we have a unique opportunity to offer a differentiated insurance product to a generation that is consistently looking for flexibility and relatability. I am beyond excited to continue to watch the company grow through expansion of its systems, partnerships, and key hires."

For more information, visit www.getodie.com.

Odie Pet Insurance is a wellness-first, tech-enabled pet health insurance brand that empowers conscientious pet parents through authentic inclusivity, simple customization, holistic care, and community engagement. Odie was founded with a revolutionary spirit and caregiving goal: to provide all dog and cat owners access to essential pet care services through a centralized digital hub. Odie Pet Insurance Marketing Inc. distributes pet insurance plans underwritten by ClearBlue Insurance Group.

RedBird Capital is a private equity firm founded by former Goldman Sachs Partner, Gerry Cardinal. RedBird manages $6 billion of capital principally across its core industry verticals in Sports, TMT, Financial Services, and Consumer. RedBird invests with an entrepreneurial, company-building mentality, with an emphasis on capital appreciation and compounding equity returns over longer holding periods. RedBird's network of business founders and entrepreneurs is central to its investment sourcing strategy, and its highly curated group of limited partners are active co-investors who provide scalable capital support.

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SOURCE Odie Pet Insurance