12 June 2009
United Dogs secures 480 000 EUR funding for expansion
Tallinn, Estonia --12 June 2009 -- Makers of Uniteddogs and Unitedcats, the Estonia-based United Dogs and Cats Ltd (UDC), received an investment of 480 000 EUR. The investment was made jointly by 3 parties – the state-owned Estonian Development Fund, Ambient Sound Investments (ASI) - an investment group led by the founding engineers of Skype, and a private entrepreneur with a web background in the Baltic region, Mr Raivo Hein.
“We have shown a steady growth in both revenues and the user base,” CEO of United Dogs and Cats, Mr Ragnar Sass says, “we’ve got over 200,000 users and we are the market leader in Italy, France, Spain, Lithuania and Estonia. This is something we are really excited about.”
Available in 16 languages, Uniteddogs and Unitedcats are fun and useful web communities where pet-owners can communicate, find new friends and learn to take better care of their pets.
“The investment will be used to further elaboration of core services and growing the user base,” Mr Andrus Oks, a spokesman from the Estonian Development Fund commented.
UDC focuses on enabling interaction between pet-owners, as well as helping people take better care of their pets. “We will introduce some revolutionary services later this year that will bring veterinarians and pet-owners much closer,” Mr Ragnar Sass also added.
Previously, UDC had received 170 000 EUR funding from ASI in April 2008. “The early stage investment United Dogs and Cats Ltd received from us was successful - the product has been well received by the users. We now look forward to the expansion of the service,” Kristjan Laanemaa, an investment manager at ASI, commented.
About United Dogs and Cats Ltd
Founded in 2007, United Dogs and Cats Limited is the maker of social networking sites Uniteddogs.com and Unitedcats.com. Company’s blog: http://blog.uniteddogs.com
About Estonian Development Fund
The Estonian Development Fund was launched in April 2007. It was created by the Estonian Parliament to initiate and support changes in the Estonian economy and society that would accelerate modernization of the economic structure, lead to growth of export and contribute to creating new jobs with high qualifications.
About Ambient Sound Investments
Ambient Sound Investments (ASI) is an investment group founded in 2003 with the objective of managing and investing the assets of Skype‘s four Estonian founding engineers. ASI primarily finances international start-up technology companies from its own funds. The company has financed dozens of technology start-ups worldwide: in Asia, the United States, Western and Eastern Europe, Finland, and Russia.
For more information, please contact
CEO, United Dogs and Cats Ltd
Investment Expert, Estonian Development Fund
Investment Manager, Ambient Sound Investments