Florida dog fitness firm Swift Paws hits big revenue milestone — with another quarter to go – The Business Journals

A Melbourne-based pet fitness device startup surpassed $1 million in revenue this year — and its busiest quarter is just getting started. 
SwiftPaws Inc., a recent successful contestant on ABC’s “Shark Tank,” has exceeded the major revenue milestone for the second year in a row, founder and CEO Meghan Wolfgram told Orlando Inno. This year, however, SwiftPaws hit the $1 million dollar mark before it entered Q4, typically when the company’s sales are the strongest, Wolfgram added. 
SwiftPaws makes machines that simulate the game of catch for animals, namely dogs, by moving a lure with the help of machines, lines and a remote control. Wolfgram started SwiftPaws in 2011 with a focus on the professional sport of lure coursing, but the company since 2017 has focused on a home device for pet owners.
SwiftPaws found demand for its product, as evidenced by the $1 million in sales it recorded last year. Of course, the startup got a big exposure boost when Wolgram pitched to investors in an April 8 episode of hit TV show “Shark Tank.”
“Shark” investor and entrepreneur Lori Greiner invested $240,000 into SwiftPaws in exchange for a 6% stake in the business. “I think you can sell millions and millions of these,” Greiner, known as the “Queen of QVC,” told Wolfgram. 
That’s not the only TV exposure SwiftPaws has landed this year. The company was highlighted multiple times during ESPN’s broadcast of the American Kennel Club’s Fastest Dogs USA competition on Sept. 25. It was the third year SwiftPaws provided its machines for use in the competition, Wolfgram said.  
Meanwhile, the firm is in the process of raising capital. Most of those funds will be used to boost the product, including offering a more affordable version of its home product next year, Wolfgram said. The lowest-cost device sold by SwiftPaws is priced at $449.99. 
The five-person company also aims to hire an additional employee by the beginning of next year.
The company has kept all of its assembly in the U.S., particularly on Wolfgram’s native Space Coast. SwiftPaws operates out of the Groundswell startup incubator in Melbourne, also relying on a workforce at Rockledge-based nonprofit BAC, Wolfgram said. “This is a very local company.” 
While SwiftPaws has plenty of new initiatives lined up for next year, its current focus is on the upcoming holiday shopping season. The company recently got accepted into Amazon Launchpad, a program that helps select companies beef up their visibility on Amazon.com Inc.’s (Nasdaq: AMZN) e-commerce platform. 
The company has been sending inventory to Amazon every week, and will continue to do so until the middle of October, Wolfgram said. 
The growth of innovative small businesses like SwiftPaws is important for Central Florida, as those firms can add local jobs and create economic impact as they scale. Startups also create innovative solutions for businesses, help develop a community and make it easier for other new companies to form in the future. 
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