In this episode of the EU-Startups Podcast, Marcin Lewandowski catches up with Michael Hurnaus, CEO of Tractive, a leading GPS tracker for pets that recently achieved $100 million ARR. They discuss the journey of building Tractive, the challenges of bootstrapping, the importance of company culture, and the innovative health monitoring features of their products. Michael shares insights on market expansion, particularly in the U.S., and highlights the impact of their technology on pet owners' lives. The conversation concludes with a look at the future of PetTech and Tractive's commitment to enhancing pet health and safety.
Takeaways
1.Achieving $100 million ARR is a big deal - few subscription companies even get there.
2.Bootstrapping has allowed Tractive to maintain financial independence.
3.The success with the US market was possible because of a strong foundation from Europe.
4.Tractive's culture is build with a focus on cost-efficiency and hiring is based on cultural fit and raising the team's average quality.
5.The PetTech market is still in its infancy and is way less digitized compared to human HealthTech and fitness space, which means there's a big room for growth.
Chapters
00:00 Introduction to Tractive and Milestones
02:54 Bootstrapping Success: The Austrian Way
06:07 Market Expansion: Cracking the U.S. Market
09:10 Innovations in Pet Health Monitoring
11:54 Company Culture and Hiring Practices
15:03 Customer Impact: Real Stories from Pet Owners
18:07 Future of PetTech: What's Next for Tractive
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