Monday, August 10

Days After Raising $5m in VC Funding Mad Paws Drops Hint of Major New Project As They Look For An EiR

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Earlier this week it was reported that Mad Paws, the pet-sitting startup, had raised $5 million in new venture capital funding to cement its position in the Australian market. But don’t think that all this capital is going to be allocated to accelerating their existing operations.

In the days that followed the fundraising announcement Mad Paws dropped a hunt that perhaps there are bigger plans afoot when it comes to the future direction of the company and how it plans to spend at least some of its newly acquired capital.

According to a job posting on the Mad Paws website the company is looking to hire an Entrepreneur in Residence who will “kick-start a new and exciting business venture within Mad Paws”

Mad Paws EIR

At first glance it would be easy to assume this is a glorified Project Manager role tasks with managing ad-hoc projects that pop up in the organization and warrant some level of testing and validation. However, reading further this does not appear to be the case.

The job posting goes on to state that “This is a highly operational and strategic role, you’ll need to get your hands dirty, hacking around to find solutions, whilst also contributing significantly to the broad strategic direction in which this project will go.”

The role is for a full time position and goes on to list some broad level requirements about the ideal candidate being responsible for managing the build and launch of an MVP, customer acquisition, market research and onboarding users.

Not too many clues are provided as to the nature of this project however one thing that did stick out was a requirement to “Onboard Sitters – you’ll need to lock down the supply-side, and secure their daily availability”.

As a result it doesn’t appear as though Mad Paws is swinging too far from the tree, however with the company already offering pet sitting services for dogs, cats, rabbits and guinea pigs it’s hard to imagine what category remains if in fact the reference to “sitters” is genuine.

While we have no further evidence to go on, ideal speculation by the team at Startup Soda is that the project is for a baby sitting and/or child minding service. The reasoning behind this assumption is that with the latest raise Mad Paws clearly needs to chase venture scale returns. The pet sitting market is only so big. Adding baby sitting into the mix has the potential to expand the revenue generating potential of the company significantly.


About Author

Paul Towers is a passionate supporter of the Australian startup ecosystem and the Founder of Startup Soda. Originally, Startup Soda was solely a newsletter that helped curate the best content from the Australian startup community, more recently however it has turned into a media platform with the aim of improving coverage of Australian Startups, Founders and VC's.

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