Wag! Pet Care Solutions Now Available through Bright Horizons

Rhea-AI Summary

Wag! (PET) partners with Bright Horizons to offer employer-sponsored pet care solutions to the modern U.S. pet household. The collaboration aims to provide on-demand pet care services, flexible scheduling, nationwide coverage, and seamless integration with Bright Horizons' existing Back-Up Care program, ultimately enhancing employee well-being and work-life balance.

Market Research Analyst

Integrating pet care solutions into employee benefits packages represents a strategic move for Wag! in collaboration with Bright Horizons. This partnership has the potential to enhance employee retention and satisfaction by addressing a growing demand for work-life balance and the well-being of employees' pets. As the modern workforce increasingly consists of pet owners, companies that offer such benefits may gain a competitive edge in attracting and retaining talent.

From a market perspective, this initiative could signify a burgeoning trend where companies diversify their employee benefits to include non-traditional services. This could open a new revenue stream for Wag! and similar service providers, as they tap into the corporate sector. It's essential to monitor the adoption rate among employers and the subsequent impact on Wag!'s financial performance, including any increases in service usage and customer acquisition costs.

Human Resources Expert

The announcement by Wag! signifies an evolution in the employee benefits landscape. As companies strive to support their employees' mental health and work-life balance, offering pet care solutions can be a substantial differentiator. This benefit can help reduce the stress associated with finding reliable pet care during work hours, which in turn can lead to improved productivity and job satisfaction.

For employers, the integration with Bright Horizons' existing Back-Up Care program means a streamlined adoption process with minimal disruption. It's important for employers to consider the cost-benefit analysis of implementing such a program, including potential reductions in employee turnover and absenteeism against the cost of the benefit.

Financial Analyst

Wag!'s announcement may have implications for its stock valuation as investors consider the potential for revenue growth through its B2B offerings. The partnership with Bright Horizons could provide Wag! with a stable and predictable income stream, which is often favored by investors. However, it's crucial to evaluate the scalability of the service and the margins associated with corporate contracts.

Assessing the long-term financial impact requires an analysis of the incremental costs Wag! will incur as it scales up its operations to meet potential increases in demand. Additionally, the market will be looking for signs of sustained corporate client acquisition, which would indicate the success and viability of this strategic initiative.

SAN FRANCISCO--(BUSINESS WIRE)-- Wag!, (Wag! Group Co., Nasdaq: PET), which strives to be the number one platform to solve the service, product, and wellness needs of the modern U.S. pet household, today announced that its pet care solutions are now available through Bright Horizons Back-Up Care Services, providing employers across the nation with the ability to offer sponsored pet care solutions for employees.

The Wag! x Bright Horizons landing page, where pet parents can book employer-sponsored pet care from 5-star pet caregivers. (Graphic: Business Wire)

As the workforce continues to evolve and prioritize a healthy work-life balance, Wag! is excited to create an employer-sponsored pet care benefit solution that addresses the unique needs of pet owners in the workplace. The collaboration ensures that pet owners can maintain their professional commitments with peace of mind, knowing their beloved pets are well cared for.

“Wag! is excited to expand our reach as an invaluable employee benefit to major employers across the US,” said Garrett Smallwood, CEO and Chairman at Wag! Group Co. “We can’t think of a better or more trusted partner to do this with than Bright Horizons.”

Key Features of the Bright Horizons and Wag! Back-Up Pet Care Solution:

• On-Demand Pet Care Services: Employees will have access to Wag!'s extensive network of professional pet caregivers, offering a range of services including dog walking, pet sitting, and more, often at no charge.
• Flexible Scheduling: The program accommodates the unpredictable nature of work schedules, allowing employees to request pet care services on short notice, or to schedule in advance.
• Nationwide Coverage: Wag! is available in 5,400 cities across all 50 states, ensuring pets in nearly every neighborhood can be cared for.
• Seamless Integration: The back-up pet care solution seamlessly integrates with Bright Horizons’ existing Back-Up Care program, making it easy for employers to implement and for employees to access.
• Enhanced Employee Well-being: By addressing the challenges associated with pet care, employers can contribute to improved employee satisfaction, retention, and overall well-being.

For more information about Wag! or Bright Horizons, please visit wag.co or brighthorizons.com.

About Wag! Group Co.

Wag! Group Co. strives to be the #1 platform for busy Pet Parents. The Wag! app offers access to 5-star dog walking, sitting, and one-on-one training from its community of 450,000 pet caregivers nationwide. In addition, Wag! Group Co. operates Petted, the nation’s largest pet insurance comparison marketplace, Dog Food Advisor, one of the most visited and trusted pet food review platforms, maxbone, a digital platform for modern pet essentials, and Furmacy, software to simplify pet prescriptions. For more information, visit wag.co.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Some of the forward-looking statements can be identified by the use of forward-looking words. Statements that are not historical in nature, including the words “anticipate,” “expect,” “suggests,” “plan,” “believe,” “intend,” “estimates,” “targets,” “projects,” “should,” “could,” “would,” “may,” “will,” “forecast” and other similar expressions are intended to identify forward-looking statements. These statements include those related to the Company’s ability to further develop and advance its pet service offerings and achieve scale; ability to attract and retain personnel; market opportunity, anticipated growth, and future financial performance, including management’s financial outlook for the future. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: management’s financial outlook for the future; market adoption of the Company’s pet service offerings and solutions; failure to realize the financial benefits of acquisitions; the ability of the Company to protect its intellectual property; changes in the competitive industries in which the Company operates; changes in laws and regulations affecting the Company’s business; the Company’s ability to implement its business plans, forecasts and other expectations, and identify and realize additional partnerships and opportunities; and the risk of downturns in the market and the technology industry. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s filings, including the Annual Report on Form 10-K for the year ended December 31, 2022. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. The Company does not give any assurance that it will achieve its expectations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240116214944/en/

Media: Media@wagwalking.com

Partnerships: Partnerships@wagwalking.com

Investor Relations

Wag!: IR@wagwalking.com

Source: Wag!

FAQ

What is the collaboration between Wag! and Bright Horizons about?

The collaboration aims to offer employer-sponsored pet care solutions to the modern U.S. pet household, providing on-demand pet care services, flexible scheduling, nationwide coverage, and seamless integration with Bright Horizons' existing Back-Up Care program.

What pet care services are available through the collaboration?

Employees will have access to Wag!'s extensive network of professional pet caregivers, offering a range of services including dog walking, pet sitting, and more, often at no charge.

How does the program accommodate work schedules?

The program accommodates the unpredictable nature of work schedules, allowing employees to request pet care services on short notice or to schedule in advance.

Where is Wag! available for pet care services?

Wag! is available in 5,400 cities across all 50 states, ensuring pets in nearly every neighborhood can be cared for.

How does the pet care solution integrate with Bright Horizons' Back-Up Care program?

The back-up pet care solution seamlessly integrates with Bright Horizons’ existing Back-Up Care program, making it easy for employers to implement and for employees to access.

What are the benefits of the collaboration for employees?

The collaboration aims to contribute to improved employee satisfaction, retention, and overall well-being by addressing the challenges associated with pet care.