Wondercide Secures Deal on Shark Tank
The Wondercide team has secured a deal with Shark Tank investor Lori Greiner, with Greiner offering $500,000 in exchange for 3 percent equity in the company and a 50-cent royalty on every unit sold until the investment is repaid. The deal puts the company’s valuation at $16.6 million.
“It was in 2008, when my dog Luna became deathly ill from conventional flea and tick treatment, that I started on this journey to create safe and effective alternatives to pesticides used on pets, families, and in homes,” said Stephanie Boone, CEO and founder of Wondercide. “I am beyond proud of what we have been able to accomplish. To have Lori Greiner join us in our mission to protect pets and families is incredibly gratifying.”
With this funding, Wondercide plans to hire its first key sales leader to establish 600 new independent retail accounts nationwide throughout the next 12 months, enabling the company to expand its mission and reach more consumers to educate them on the risks of synthetic pesticides, and establish a safe, natural alternative.
“Shark Tank took many months of intense preparation; this is on top of the hard work we put into Wondercide each and every day, which has led to doubling our revenue every year since we’ve been in business,” said CMO Laura Alter. “To say it was a challenge is an understatement, but we are thrilled with the outcome and eager to continue to grow our business and protect even more pets and families.”
Wondercide received offers from three of the five Sharks, ultimately accepting a deal from Greiner. Once Boone and Alter agreed to the deal, Greiner said, “I have been wanting to do something like this for a long time. I’m so excited!”
Wondercide offers an alternative to synthetic pesticides with a complete line of natural products that are effective and safe for pets, family and the home. Prior to Shark Tank, Wondercide had delivered triple-digit growth year-over-year since its inception, and the initial product concept has now expanded to more than 30 natural products for pets, people, and property.