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A human-grade raw dog food brand (based in the US) has announced the closure of its most recent fundraising round, totalling $10 million from investors.
This particular funding round was led by VMG partners, and included participation from BFG Partners, Willow Growth Partners, Springdale Ventures, DX Ventures, Contrary Capital, Good Friends, and 1st Course Capital.
The money raised is intended to go towards supporting company growth, via product expansion, vet-backed research and recipe development, as well as expanding their team and product portfolio.
The company was launched in 2022, founded by Katie Spies. Maev intends to provide a positive impact on the dog food industry by improving canine health and wellness.
In recent years, subscription-based e-commerce has been increasing in popularity within the pet food market, which has benefited and contributed to Maev’s growth. The company has reported a 95 percent second-box retention rate, which shows that consumer demands are positively leaning towards convenient and quality raw dog food.
Their current dog food product portfolio includes a range of raw food, daily vitamin bars, and a bone broth topper. The company launched in 2020 and has experienced significant growth from the beginning, with subscriptions tripling in 2022. To this day, Maev has served over seven million meals, focusing on a nutrient-rich diet of raw, human-grade, unprocessed dog food.
The business model is based on providing accessible subscriptions in portioned packaging, with an emphasis on quality, form and function, clean ingredients, as well as canine wellness. Meeting the dog’s biological needs is the core feature for consideration when formulating Maev’s recipes, each meal is designed to target any common nutritional gaps for canines. The accessibility and ease of serving the food straight out of the freezer creates less meal prep and mess for the consumer; another reason for its growing popularity.
Maev’s dog food products are all made in the USA, using USDA-Certified ingredients, meeting the nutritional levels established by the AAFCO Dog Food Nutrient Profiles for all life stages. The meals don’t contain preservatives, synthetics, fillers, or by-products, and allegedly provide many health benefits such as energy balance, weight management improvement, decreased dehydration, better bowel movements, and shinier coats.
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