223 W. Erie, 6th Floor
9,800 sq ft. Currently 50 employees, additional room for 70.
Creative self-managed build-out; classic historic loft with exposed brick, steel beams, joists and ceilings, incredible ceiling height, sunlight and windows.
Zorch International, Marquee Health Cural, BCV Social, BigMarker.com, Semelsnow Interior Design Inc.
Figo has raised a total of $13M in funding over three rounds. Their latest funding was raised in March of 2018 from a Series A round.
$4 million Series A in 2016. Previously FIGO had obtained seed rounds totaling $13 million comprised of investments from family members and private parties'
Accolades & Accomplishments
Rated "Best Pet Insurance" in U.S. by Reviews.com 2017, 2018 & 2019 Ranked #1 InsurTech Company in Pet Health by A.M. Best Reviews Silver Award "Most Innovative InsurTech North America" Efma Accenture Featured as a top, global technology company at Salesforce's Dreamforce event.
The idea of FIGO began in 2011 as an idea born on the heels of Rusty Sproat's successful career as a licensed property, casualty, and health insurance professional and prominent residential real estate entrepreneur in the Chicago market. Inspired by Buster-his loyal Boston Terrier-and a deep understanding of the insurance industry, Rusty launched Figo, the first technology-based pet insurance company.
In 2012 Rusty's co-founder Kevin Ludden joined to help build the company. They created the name followed quickly by a lifestyle brand, which they agreed would be built with the customer in mind first and foremost. Their focus would be on mobile experience, millennials, and creating utility applications. Figo is truly a technology pioneer within the fast-growing $60 billion pet industry.
Growth & Challenge
FIGO found a brief home in the 1871 start up incubator in 2013 and was growing so quickly that new offices were required - a trend that would continue. In 2014 FIGO moved into their next pet-friendly offices at 444 N. Wabash where FIGO launched their site and platform - first to Illinois and California, then to the rest of the country shortly after. FIGO's launch having been more successful than expected, employee growth mandated a move to two larger spaces where the company lived until 2017 when they moved to their current home at 223 W. Erie. Two years after moving in, having grown by 200% in the first year following their move, they expanded to take the entire 9,800 sq ft floor.
As FIGO continues in 2019 and into 2020, they will focus on their "Petcloud" platform. The Petcloud allows pet owners to engage with one another, find grooming and boarding locations and discover the pet ecosystem. The company will also continue working with forward thinking companies to offer/provide an unprecedented benefit for employees - aimed at improving recruiting and retention - pet health insurance.
FIGO's repeated need to expand required the founders to be vigilantly reverential of the culture that led to their success. Each stage of growth had taken place so explosively that the lack of office space began to threaten employee happiness (and productivity). FIGO successfully navigated the challenges of their scale and expansion, all while very shrewdly upholding the brand vision and integrity.
FIGO currently enjoys a terrific space where all of its staff work comfortably. Their current offices factor in 30% growth in their employee ranks, taking into account consistently changing workforce demands, work flow and requirements.
Insights For Founders
Kevin Ludden offered insights for current, successful and up and coming CEO/founders.
"Brand awareness can take time. A lot of people/founders jump ship just a tad too early before their product or offering has the ability to take root. This usually happens for a myriad of reasons - principally fear and insecurities. Stick to your vision. Don't deviate - Trusting your gut, and staying the course is really what it is all about."