Waggle Secures Seed Funding
NEW YORK, December 7, 2016
Waggle, a new media company formed to publish original pet and animal content across multiple digital channels and platforms, formally launched today with new investments, consumer products, and partnerships.
Waggle aims to become the global media brand in pets and animals – a $60 billion industry – publishing original video produced by a dedicated, app empowered community and high quality premium shorts starring the animal talent it nurtures and builds on its social channels. The firm officially launches with its Waggle app, e-newsletter The Wag, website, and a robust Facebook presence that has already aired more than 1,000 hours of live streaming pet content and garnered more than 10M views in its beta period.
Waggle’s $2.3M seed round funding was led by Raine Ventures and included participation from Lowercase Capital, Brooklyn Bridge Ventures, United Talent Agency, Broadway Video Ventures, Ore Ventures, Allen Debevoise, as well as other prominent angel investors. Waggle is led by co-founder and CEO Matt Cavnar.
“Pet owners represent one of the most passionate groups of content creators and consumers online,” said Matt Cavnar, co-founder and CEO of Waggle. “But there is no destination right now that celebrates them and their animals. Their passion is why we built Waggle.”
“One of the categories that excites us the most right now is vertically-focused digital content,” said Gordon Rubenstein, Managing Partner of Raine Ventures. “The extensive digital library that Waggle’s community of users has already built up over the last few months speaks to the enormous opportunity to create a distinct brand to address and service the pet and animal enthusiast space.”
One of Waggle’s key features for pet and animals organizations is how it empowers them to create and distribute content across Waggle’s channels. Since the company began in stealth, Waggle’s platform has been used by the Westminster Kennel Club Dog Show, The Surf Dog Surf City Event, the San Francisco SPCA, and others to live stream and distribute content. Through a collaboration with the producers of America’s Funniest Home Videos, Waggle will also publish pet and animal related content collected by the show.
“Pet lovers and owners are one of the most passionate communities on the planet, and with Waggle they finally have a place to thrive,” said Matt Mazzeo of Lowercase Capital. “There’s never been a better time to build a media brand that people love, and we couldn’t be more excited about Waggle.”