FetchFind is the #1 training solution for pet care businesses. The startup was a Winner of the first Pet Care Innovation Prize competition, winning $10,000, an all-expenses paid Pet Care Business Boot Camp for founder Jamie Migdal, and visibility with investors and industry leaders.
The following is a recap discussion with Jamie on what’s happened with FetchFind since she traveled to St. Louis in November 2016 for the Pet Care Business Boot Camp.
What has happened with you and your company since the PCIP last year?
So much! It feels like FetchFind is truly a different organization from where we were during PCIP. Gratefully, we’ve experienced more than 125% subscriber growth and 250% growth in revenue over the past 12 months. We’ve gone on to raise an additional $300k via a successful equity crowdfunding raise on Republic, investment from Prosper Capital, and a few notable angels. We’ve tightened up our operations, focused our product offerings, and hired a high-level COO and business development lead.
How have your vision and company changed since last year?
We’ve become hyper-focused on product-market fit and revenue generating endeavors. In a nutshell — if it doesn’t result in revenue opportunity, we won’t spend time on it. This decision has helped us to see where we were wasting time with efforts in an attempt to be all things to all people.
What are your current opportunities, challenges and successes?
We are adding team members focused on processes and execution, vs execution only. We’ve had some hits and misses, but we are fully committed to the “hire slow, fire fast” practice. Our opportunities are informing our team expansion, as we are on the cusp of partnerships with major global pet care organizations and brands. It’s a very exciting time for FetchFind.
What would you tell the next class of PCIP winners? Those thinking about applying?
I would tell them to clear the decks of everything else they have going and focus solely on what PCIP is offering, for whatever length of time that is. Being distracted by other things (even if that other thing is running your company!) means that you won’t derive the maximum benefit from this extraordinary opportunity. PCIP was one of the best experiences I have ever had. I learned a lot about myself as a CEO and constantly pull from those experiences – especially the more challenging aspects – during my time at PCIP in St. Louis.
How has winning the PCIP helped you?
Winning PCIP has helped other accelerator programs, investors and customers look at us as a more serious prospect; I’ve since gone on to take part in the Prosper Women Entrepreneurs program, gone on to raise additional capital and closed deals with countless new customers and partners. I really believe that PCIP helped opened those doors. In addition to signing a content deal with PetSmart this past spring, we’re in negotiation talks for partnerships with HUGE names in the pet industry, and it helps to have that PCIP cred in our backstory.
Who would you like to give shoutouts to and why?
I have spent a lot of time in St. Louis this year, due to all things that came from my PCIP participation. The support I’ve received from the St. Louis / Nestlé Purina community has been overwhelming. There are a lot of folks that deserve a shoutout, but in particular, I am humbled by the mentorship and support I have gone on to receive from Maxine Clark, Dan Reus – who came to Chicago to moderate a major event FetchFind hosted at 1871 Chicago; and Chris Danforth, Chairman of Kennelwood Pet Resorts, notable businessman and venture capitalist, (and grandson of Purina’s founder) is now a FetchFind customer, friend and business mentor to me… and that’s just to name few individuals, as there are countless other remarkable people involved in the PCIP program and in the St. Louis business community in general.
What are your goals going into next year?
Revenue, revenue, revenue… growth, growth, growth! 🙂
What’s the most interesting thing to you about being an entrepreneur in the pet care industry?
Right now, the most interesting thing is how business owners are clamoring for better education and training for their employees (and customers!). Not so long ago, onboarding and training used to be a much more haphazard process, but as the number of competitors for market share grows, so does the realization that education is a real added value and differentiator. That means a very bright future for the FetchFind team, our investors, and for our companion animals and the people who love and care for them!
Think you have an idea that the pet care industry needs, and that the Pet Care Innovation Prize can help you like it helped Jamie? Send us a note at Hello@PetCareInnovationPrize.com to be notified for upcoming opportunities to get recognition and support as a pet care entrepreneur.