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Unleashing Innovation: Lassie Transforms the Pet Insurance Landscape

New clinics and venture capital flowing into pet tech, the pet insurance domain has remained surprisingly static
November 29, 2023

In the vast realm of the pet industry, where companies are sprouting up to pamper our furry friends, the pet insurance sector has remained relatively unchanged. Despite the surge in pet-centric startups and clinics, insurance for our four-legged companions hasn't quite kept pace with the innovations witnessed in human life and health insurance.

Bucking this trend is Lassie, a trailblazing Swedish-founded startup on a mission to revolutionize pet insurance. Their focus goes beyond mere coverage; they aim to empower pet owners to foster healthier, happier, and fitter pets.

In a recent triumph, Lassie secured €23 million in Series B funding, led by the reputable Balderton Capital, known for its savvy investments in Unaric, Grasp, and Anytype. Joining the funding chorus were previous investors Felix CapitalInventurePassion Capital, and Philian (H&M Chair Karl-John Persson), bringing Lassie's total funding to a robust €36.5 million.

The freshly acquired funds are earmarked for an ambitious agenda. Lassie plans to bolster its ecosystem by incorporating in-app sales of health products for pets, expanding its tech and product teams, sustaining growth in Germany and Sweden, and gearing up for its next international launch.

Hedda Båverud Olsson, co-founder of Lassie, found her inspiration in a childhood surrounded by a veterinarian parent dedicated to preventive care for their cherished pets. In 2021, together with insurance expert Sophie Wilkinson and technology lead Johan Jönsson, Hedda turned this vision into reality by establishing Lassie in Sweden.

Lassie distinguishes itself by offering tailor-made insurance products complemented by coaching for cat and dog owners. Their app is a treasure trove of online courses, featuring videos and articles that guide owners on topics ranging from dietary advice and stress reduction techniques to effective puppy or kitten training and accessible exercises.

Completing these courses isn't just about knowledge; it's a rewarding experience. Owners receive perks every insurance year, from reduced premiums (€25 to €50 cheaper annually) to points that can be spent in Lassie's in-app store.

As Lassie charts its course, it isn't merely content with transforming the pet insurance landscape; it's creating a community of informed and engaged pet owners who understand that ensuring a pet's well-being goes beyond traditional insurance coverage.

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