Halo Collar advances growth plan with funding package from Decathlon Capital Partners
Financing package will support expansion for the rapidly-growing next generation GPS wireless dog fence company
WOODCLIFF LAKE, NJ (PRWEB) APRIL 11, 2023
Halo Collar, the world’s most advanced next generation GPS wireless dog fence, has landed a multi-million dollar growth funding package from Decathlon Capital Partners. Details of the revenue-based funding transaction were not disclosed.
Halo Collar, headquartered in Woodcliff Lake, NJ, will use the funding to support growth, continue product development and expand distribution. The company has achieved significant revenue growth from approximately $3M in revenue in 2020 to approximately $50M in revenue in 2022 with 150,000 collars now sold. Halo Collar makes GPS-enabled wireless dog collars so dog owners can track their dog and keep them within the boundaries you set in the app, regardless of location.
Ken Ehrman, Chief Executive Officer and Co-Founder of Halo Collar, said the company’s purpose is to keep dogs safe everywhere they go and help them live their best lives. 10 million dogs run away every year, and 1 million of them are hit by cars,” Ehrman said. “Our goal is to reduce that figure to zero, by providing each and every dog and dog owner with our system of technology, training, and services to ensure pet safety.”
Ned Mavrommatis, Chief Financial Officer of Halo Collar, said the company is looking forward to working with Decathlon Capital Partners, thanks to its dilution-free, company-friendly funding. “Decathlon has provided Halo Collar with the flexibility our company needs to support its current growth initiatives without giving up any equity or ownership,” Mavrommatis said.
Kevin Grossman, Vice President of Decathlon Capital Partners, said Halo Collar’s wireless dog fence collars meet a clear need in the marketplace. “The leadership team at Halo Collar has a clear vision for their growth initiatives,” Grossman said. “Decathlon Capital Partners is proud to be by their side during the company’s next steps.”
About Halo Collar
The Halo Collar™ is the world’s most advanced pet safety and training technology. Co-founded by Cesar Millan, this patent pending system utilizes proprietary technology & dog psychology to provide a wireless smart fence, smart training, GPS tracker and activity tracker combined into one easy-to-use smart collar. The Halo Collar™ utilizes proprietary GPS and GNSS location tracking – keeping them safe and easy to locate should they ever wander too far. Halo protects over 150,000 dogs across the United States each day. For further information and to purchase, please visit: www.halocollar.com.
About Decathlon Capital Partners
Decathlon Capital Partners provides growth capital for companies seeking alternatives to traditional equity investment. Through the use of highly customized revenue-based financing solutions, Decathlon provides long-term growth capital without the dilution, loss of control and operational overhead that often comes with equity-based funding. With offices in Palo Alto and Park City, Decathlon is the largest revenue-based funding investor in the U.S. and is active across a wide range of sectors. Learn more at www.decathloncapital.com.
If you are looking for capital to accelerate your growth, we would love to talk.
DECATHLON INVESTMENT CRITERIA
Operating history of at least two years
Annual revenues between $4 million and $100 million
Annual growth rate of 10% or more
Attractive gross margins
Experienced management team
North America-based operations
Near-term visibility to cashflow-positive status