Womble Bond Dickinson has advised Rockpool Investments on its recent investment in TrustedHousesitters, the world’s largest house and pet sitting community operating in over 130 countries.
The investment by Rockpool comes at a time of significant growth for the company. So far this year TrustedHousesitters launched their first commercial partnership with low cost carrier easyJet, as well as continuing their expansion across the USA and Australia. Further technology improvements include launching an iOS app in June which has had over 20,000 downloads to date. This success has enabled the company to double from 25 to 50 staff in 12 months, recently moving into their fifth new premises in Brighton.
TrustedHousesitters experienced 70% growth in the year to 28th February 2018 and is projecting significant growth for its financial year ending 28th February 2019, with a revenue run rate of over £5m. Next year will see TrustedHousesitters internationalise the site that operates in 130+ countries, but is currently only available in English.
The investment sees Rockpool retain a significant minority stake in the business, with the current TrustedHousesitters executive team continuing to run the business while the founders Andy Peck and Rachel Martin each take a non-executive director role.
The WBD team was led by Partner Leon Miller (picture) and Associate Alex Fergus in the corporate team; tax expert Ronan Lowney; and Managing Associate Tom Caplen and Solicitor Luke Addison in the Banking team.
Involved fees earner: Leon Miller – Womble Bond Dickinson; Alex Fergus – Womble Bond Dickinson; Ronan Lowney – Womble Bond Dickinson; Tom Caplen – Womble Bond Dickinson; Luke Addison – Womble Bond Dickinson;
Law Firms: Womble Bond Dickinson;
Clients: Rockpool Investments;