Mega deal: Well-known pet start-up from Upper Austria sold

Tractive is one of the most valuable start-ups in Austria, but was founded 14 years ago. A partnership has now been formed “to leverage Bending Spoons’ superior AI infrastructure and global scaling expertise,” according to the press release.

Luca FerrariCEO of Bending Spoons, emphasized that they intend to “invest significantly in Tractive over the long term.” Specifically, they want to “expand their health and safety capabilities.” A purchase price was not mentioned. But according to research by… ORF OÖ amount to more than 300 million euros. Tractive employs more than 300 people.

Tractive founder and CEO Michael Hurnaus According to the release, was determined to “find a partner who is committed to long-term growth and responsibility for the company.” Co-founder and COO Wolfgang Reisinger refers to the company’s stable foundation. Now is the right time to pass the baton to a partner with extensive expertise in scaling large consumer brands to initiate the next phase of growth.

1.5 million customers

With 1.5 million paying subscribers, the Upper Austrians are the world market leaders in the lucrative niche segment of pet tracking. The subscription model secures 80 percent of the income. New subscribers buy the tracker for the collar for 70 euros and, like Netflix or Spotify, take out a subscription for 5 euros per month in order to be able to use all of the app’s functions.

Owners receive a notification if their pet leaves virtual fences or enters a taboo zone. The tracker hangs on your collar like a small cell phone and can be used by 500 mobile networks worldwide, including when traveling.

According to CEO Michael Hurnaus compared to the KURIER in the summer of the previous year, around 200 million euros were sold in the previous year. The export quota at Tractive is 95 percent. “We are also profitable,” said the founder, who previously worked at Amazon and gained experience with digital business models there. Tractive’s largest market is the USA, where Tractive started four years ago and is expanding rapidly.