Bought By Many
Bought By Many is a company.
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Leadership Team
Key people at Bought By Many.
Bought By Many is a company.
Key people at Bought By Many.
Bought By Many, now operating primarily as ManyPets, is a digital-first pet insurance company that provides tailored, tech-enabled coverage for pets, addressing the financial burdens of veterinary care. It serves pet owners (primarily "pet parents" of cats, dogs, birds, mammals, reptiles, and exotics) by solving key pain points in the outdated pet insurance industry, such as slow claims processes, lack of coverage for pre-existing conditions, poor customer service, and limited digital access. The company offers unlimited vet and dental fee coverage, optional wellness plans, video vet consultations, online form-free claims, and policies with features like zero excess or money-back if unclaimed. With nearly 500,000 pets covered globally, strong growth momentum—including doubling gross written premium (GWP) to over $200m in the past year, 5x customer growth over five years, £104m in claims paid annually, and expansion to 230+ remote staff—ManyPets has raised $165m+ in funding, achieving a $2bn valuation in its Series D.[1][2][3][5][6]
Bought By Many was founded in 2012 in London, UK, by CEO Steven Mendel and CTO Guy Farley, who identified major flaws in the traditional insurance industry—described as "rubbish" with outdated tech, slow processes, and unresponsive support. Initially broader in scope, the company pivoted exclusively to pet insurance in 2017 after gathering feedback from thousands of pet owners via social media, which highlighted unmet needs like better coverage and easier claims. Early traction came from innovations like being the first UK pet insurer to offer online form-free claims. Pivotal moments include the 2015 acquisition of Brooks Braithwaite (exotic animal insurance specialist), 2019 acquisition of software firm Cotidia (boosting tech capabilities in Birmingham), and funding rounds: Octopus Ventures' early investments (2017-2020), £78.4m Series C in 2020 led by FTV Capital, and $97.75m more in 2021, totaling $165m raised. International expansion followed: Sweden as ManyPets in 2020, US launch in 2021 (now in 40 states), and UK rebrand to ManyPets.[1][2][3][4][6][7][9]
ManyPets rides the insurtech wave and explosive pet humanization trend, where pet ownership booms (e.g., US market growing 25%+ annually, 98% uninsured penetration opportunity) amid rising vet costs and post-pandemic pet adoptions. Timing is ideal: launched pet focus in 2017 as digital adoption surged, expanding amid remote work and e-commerce shifts in insurance. Favorable market forces include underserved global pet insurance (underpenetrated vs. human health), VC appetite for high-growth insurtechs, and tailwinds from aging pet populations needing innovative coverage. The company influences the ecosystem by pioneering customer-obsessed models—elevating standards for claims speed, personalization, and vet integration—while inspiring competitors and partners through tech-enabled partnerships and acquisitions, accelerating insurtech maturity in pet care.[1][2][5][7]
ManyPets is poised for hypergrowth, leveraging its $2bn valuation, recent US acquisitions (e.g., Digital Edge in 2022 for faster state expansion), and momentum toward 1m+ pets covered. Next steps likely include deeper US/Sweden penetration, potential new markets (Europe/US adjacencies), product expansions (e.g., more wellness/tech integrations), and sustainability pushes. Trends like AI-driven claims, tele-vet ubiquity, and premium pet spending will propel it, evolving its influence from disruptor to category leader—potentially via IPO or mega-acquisition—while fulfilling its core mission to make pet parenthood worry-free. This builds on its founding vision: transforming a "rubbish" industry into one pets and parents love.[2][5][9]
Key people at Bought By Many.
