ITV is investing in pet health and wellness company PitPat, adding the firm to its Media for Equity portfolio in its second investment of the year.
The channel’s Media for Equity investment fund, ITV AdVentures has pledged to invest up to £4 million of advertising inventory across the broadcaster’s channels and its on-demand service ITVX, in return for a minority stake in PitPat.
The move follows in the wake of a £3 million Media for Equity investment in architectural design outfit Resi earlier this year. The investments will allow the brands to reach millions of customers nationwide, benefiting from the media giant’s extensive reach.
“PitPat is a truly innovative, customer centric brand bringing the insights of data, monitoring and tracking to help pet owners and I’m thrilled that the company is becoming part of ITV’s Media for Equity investment portfolio,” said ITV AdVentures director, Sheena Amin.
Subscribe to Marketing Beat for free
Sign up here to get the latest marketing news sent straight to your inbox each morning
She continued: “We know that ITV viewers index highly as pet owners and I’m confident that we can help drive category awareness for pet GPS trackers and put PitPat on the map at the same time.
The channel’s investment will allow PitPat to push on to the next stage in its development as it looks to bring its innovative pet-tracking GPS proposition to a wider audience. PitPat founder and CEO, Andy Nowell said he was “delighted” that ITV AdVentures had come on board as an investor for the business.
“Its extensive viewership and strategic media expertise will enable us to reach a nation of dog lovers and drive significant category awareness, cementing PitPat as the go-to brand for pet parents,” he added.
“We have been thoroughly impressed by their collaborative approach and are confident they will be an instrumental partner in our growth.”
