RetrievAir, an Arlington-based aviation pet charter service startup, has secured a high-flying investment from Alexis Ohanian, the company announced on Monday.
The service debuted in February with a flight from Arlington Municipal Airport to Denver, and now offers flights to cities throughout the country, including Seattle, Fort Lauderdale and Chicago.
The investment deal surfaced last week, during an episode of Shark Tank — ABC’s long-running reality television show in which entrepreneurs pitch celebrity business magnates on investment deals.
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In the episode, Benton Miller, RetrievAir’s founder and CEO, and Mark Williams, a co-founder, proposed to the “sharks” a deal that would give an investor 5% equity in the company in exchange for $500,000.
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They ultimately secured an agreement with Ohanian, a guest “shark.” The entrepreneur and Reddit co-founder is also well-known as the husband of tennis legend Serena Williams.
Under the deal Miller and Williams gave up 15% of the company in exchange for $776,000. The investment valued the startup at around $5.2 million.
“I love the concept, and as the Reddit guy I’ve seen lots of stories like this go viral and do numbers, and I do think there’s a demand here [for something] that’s more accessible to the people,” Ohanian said during the show, referencing the service’s relatively affordable price points.
“There are so many people, especially in my generation, Millennials,” Ohanian added, “who have put off having children … they’ve made their pets — often their dogs, yes their cats too — such a priority in their lives, that this to me is a no-brainer.”
“Appearing on “Shark Tank” was a dream come true,” Miller said in a statement, “and we are so thankful that Alexis and the team at Seven Seven Six have put their faith behind RetrievAir.”
Seven Seven Six is Ohanian’s early-stage venture capital firm.
RetrievAir, which partners with the Arlington-based charter company RVR Aviation, functions as a public charter service, but with a business model that prioritizes the travel experience for dogs and their owners. The service offers everything from more frequent legs to allow for outdoor bathroom breaks, to on-board dog treats and water.
“We believe your furry friend does not belong in the cargo hold like a suitcase,” the two founders said during their Shark Tank pitch. “They belong in the seat right next to you.”
A few months ago, RetrievAir notched its first sold out flight — with 25 humans, 19 dogs and one cat — according to a social media post.