Insurtech Bought By Many makes senior hire to support expansion plans
London-based insurtech Bought By Many, which gained unicorn status after securing a valuation of over $2 billion following a $350 million Series D funding round in June this year, has made a senior hire as it looks to expand its remit beyond pet insurance.
Adam Rostom joins the company as chief marketing officer. Rostom makes the move from Babylon Health, where he had been CMO since 2018.
Rostom joins the company at a significant stage as it gears up to expand its pet health offering through subscription-based services. He will help build international brand awareness for Bought By Many and ManyPets.
Since launching pet insurance in the UK in 2017, Bought By Many has expanded into the Swedish market in 2019 and earlier this year launched a state-by-state roll out in the US, both under the ManyPets brand. The group now insures half a million pets globally.
The company's recent investment has helped support its global expansion and drive product development beyond its insurance offer. The funding has also supercharged recruitment, with the group doubling its team to over 350 over the past year.
Steven Mendel (pictured), CEO and co-founder of Bought By Many, said: “Adam has a solid track record for accelerating brand awareness for fast-growth businesses like ours, and brings extensive experience to help cement us as a household name to pet parents around the world. We’re reaching thousands more pet owners every day and listening closely to what they need to help give their pets the best in life. Having Adam on our team will help us bridge the gap between insurance and beyond.”
Rostom commented: “I am very excited to join the Bought By Many team, who, in a short period of time, have built a brand that pet owners truly love and trust. It's hard to miss the work they've achieved, though my first experience of the brand was as a customer when I took out insurance for my dog Rocco. Much like in human health care, we’re seeing a shift in how people approach their pet’s health and wellbeing and are looking to access more holistic care. From cutting-edge vet treatment, preventative care, nutritionists and behaviourists, owners want it all in one place so they can help their pet live a long happy life. We have ambitious goals to support these owners and I’m looking forward to getting started.”
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