Happy Bond

Happy Bond

Early Stage

Science based nutritional products for pets that helps them live a healthy life

Science based nutritional products for pets that helps them live a healthy life


Raised to Date: Raised: $229,284

Total Commitments ($USD)



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Security Type

Convertible Note


Series A

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RegCF    Open SEC Filing

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Year Founded



Food, Beverage, & Restaurants

Tech Sector


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Venice, California

Business Type


Happy Bond, with a valuation cap of $16 million, is raising crowdfunding on Wefunder. The company makes science-based nutritional products for pets that help them live healthy life. The products of Happy Bond include HappyAgain Collagen+ for hip and joint wellness of senior dogs, HappyDays for adult dogs, and HappyStart for pups. Anja Skodda founded Happy Bond in 2017. The current crowdfunding round of the company has a minimum target of $100,000 and a maximum target of $1,000,000. The raise proceeds will target marketing, inventory, and salaries. Happy Bond reported a three times growth from the first quarter of 2020 to the third quarter of 2020, with 40% of the customers as subscribers.

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Financials as of: 03/09/2021
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In America, 85 million families have a pet, and dogs are the most popular choice. Almost 40% of households in this country own a dog, and many own more than one. That comes out to more than 75 million canine companions in the U.S. alone. Almost all pet owners view their furry friends as members of their family, which means they’re very concerned when a pet suffers from health problems.  

One in five dogs struggles with chronic arthritis pain. Osteoarthritis is one of the most common medical conditions in dogs. That means millions of dogs struggle to move as effortlessly as they did when they were puppies. In advanced stages, osteoarthritis can cause complete joint failure and an inability to move, dramatically reducing a dog’s quality of life. 

HAPPYBOND founder Anja Skodda experienced the ill effects of joint pain with her own dog. She used her training as a scientist to develop a collagen-based pet supplement to help dogs regain mobility. Now, HAPPYBOND offers a range of health products for dogs and plans to become a destination for many product lines related to raising happy, healthy pups. 

HAPPYBOND’s current Wefunder raise has been rated a Neutral Deal by the KingsCrowd investment team.

Next Section: Price


HAPPYBOND is offering investors a convertible note at a $5 million valuation for early birds and a $6 million valuation for later investors. Although HAPPYBOND has seen only limited revenue thus far, the revenue-to-valuation multiple for the company bolsters its price score. The valuation is also very attractive in comparison to other startups currently seeking capital. The 5% interest rate associated with the convertible note is also a boon for investors. Balancing all these factors together, HAPPYBOND scores strongly in the price metric.

Next Section: Market


There’s no shortage of dogs in the United States. Almost four in 10 households include a furry friend, and dog owners aren’t shy about spending money on their pets. The global pet care market is expected to reach more than $200 billion by 2025, though the projected CAGR is only moderate at 4.9%. Analysts note that growth in the pet care category is driven by increased adoption rates (pet adoptions were very popular during the pandemic) and growing demand for premium pet care products. 

At present, HAPPYBOND is only selling to a limited slice of this broader pet care market. The company’s primary product line is a powdered collagen supplement to promote healthy joints. Most dog parents might not have specifically considered their pet’s joint health and might not be in the market for a premium supplement. Collagen powder for pets isn’t nearly as mainstream as leashes, food, etc. However, HAPPYBOND does offer additional products — including dog treats — and plans to expand into food and other health offerings in coming years. While the company’s obtainable market is quite small at this early stage in the company’s history, HAPPYBOND’s addressable market size will continue to grow as it offers more products. The decent size of this market drives the company’s above average market rating. 

Next Section: Team


HAPPYBOND was founded by Anja Skodda, who studied biotechnology at Technische Universität Berlin in Germany. Skodda positions herself as a seasoned scientist on HAPPYBOND’s raise page, but she doesn’t seem to have had any formal experience in the lab outside of her academic work. Instead, she’s spent the last several years as the founder of various companies in pet care, which all seem to be related to HAPPYBOND in some way (Skodda’s LinkedIn page doesn’t offer much clarity). 

Additional HAPPYBOND team members have more established credentials in business. Bret Leece, the company’s CMO, has held various marketing roles for the last 20 years, including stints at the Walt Disney Company, House of Blues, comScore, and more. HAPPYBOND COO Sean Hunt has held operational roles at a few growing companies over the last several years. He is also the founder of his own startup consulting firm. Note, though, that both Leece and Hunt seem to work part-time for HAPPYBOND. 

Overall, Skodda’s experience is somewhat relevant for product development, but she doesn’t have any concrete exposure to marketing, sales, finance, or any other areas of business-building. Other team members have a bit more of a proven track record, but they don’t work full-time for HAPPYBOND. Therefore, the company’s team rating is only middle-of-the-road. 

Next Section: Differentiators


At this point, HAPPYBOND’s products aren’t particularly well differentiated or defensible. While the company’s collagen supplements do seem to have a positive impact on dogs’ health, they seem to be fairly basic products. Using collagen to support joint health isn’t quite cutting-edge science and thus could be easily imitated. In addition, there are many companies attacking the pet care space right now. Spending on pet care continues to increase year after year, and many entrepreneurs are leveraging their love of pets to create compelling consumer brands. HAPPYBOND’s current product line is a good deal more specific than many of the more widely-applicable brands selling premium treats or apparel. It seems that the company’s products could easily be offered by a bigger-name brand, thus reducing the specific demand for HAPPYBOND. As a result, HAPPYBOND’s differentiation score is its lowest across all five metrics. 

Next Section: Performance


HAPPYBOND is still a very early-stage company that isn’t generating particularly impressive revenue. Nonetheless, HAPPYBOND did post meaningful year-over-year growth in 2020. In 2019, the company made almost $94,000 in revenue. The first 10 months of 2020 brought in almost $184,000 in revenue. Extrapolated to the full year of 2020, HAPPYBOND grew revenues by more than 100% last year, despite the difficulties of running any kind of business in a global pandemic.  

It’s worth noting that HAPPYBOND is still pre-profit. Though 2020 was a record year for revenue, it was also a record year for net loss at more than $345,000. However, HAPPYBOND’s year-over-year revenue growth is distinctive among companies of its size, and the company’s plans for additional product launches and influencer marketing with big names like Cesar Milan and Halle Berry are strong signals of future revenue potential. Therefore, HAPPYBOND’s performance rating is strong. 

Next Section: Risks


A company at this early stage is always a somewhat risky investment. In HAPPYBOND’s case, the biggest sources of risk are the financials and team. While HAPPYBOND did generate significantly more revenue in 2020 than it did in 2019, it is still running at a deep net loss. In addition, the company was founded by a so-called scientist with no business experience. Anja Skodda is the only full-time employee, so the company isn’t benefiting from deeply experienced talent in key roles. It’s also worth mentioning that HAPPYBOND hasn’t raised much outside capital yet, not a great combination with development cycles that are somewhat long given the (moderate) scientific complexity of the products. Lastly, HAPPYBOND’s investment terms aren’t exactly favorable for potential investors, with a sky-high revenue multiple that isn’t supported by strong product-market fit just yet. 

Next Section: Bearish Outlook

Bearish Outlook

HAPPYBOND has a noble mission of improving dogs’ quality of life, and the company’s founder clearly cares about combining her passion for science with her passion for pets. So far, HAPPYBOND seems to be living up to its mission. However, it’s still too soon to say whether the company has the legs to outpace harsh competition in the pet care space. CEO Anja Skodda seems to have been working on these products for some time (HAPPYBOND is apparently a rebranded version of a previous company, Happy Again Pet), and they haven’t made a huge splash yet. HAPPYBOND seems to be on the slow and steady growth path, which is a cause for concern in an industry with this much competition from well-funded, well-branded, innovative incumbents. In addition, a slow and steady trajectory won’t benefit potential investors very much. HAPPYBOND’s valuation is already high for its current revenue, and the company will continue to require more capital to develop new product lines. While HAPPYBOND seems to be a decent business with the potential to create a solid customer base, it might not be a company that will generate optimal returns for investors. 

Next Section: Bullish Outlook

Bullish Outlook

HAPPYBOND isn’t a household name yet, but the company seems to have found a viable pitch for its products and has made a few savvy strategic moves that are good signals for future growth. First, HAPPYBOND offers its products on subscription plans, and 40% of the company’s customer base subscribes for regular product shipments. This stable revenue stream increases customer lifetime value and offers predictable capital that the company can reinvest in product development. Second, HAPPYBOND has partnered with impressive influencers, including “The Dog Whisperer” Cesar Milan (who has a large, highly relevant audience who would theoretically be eager to buy HAPPYBOND supplements) as well as Halle Berry. 

While HAPPYBOND’s founder doesn’t have proven startup chops from prior companies, she’s clearly done a good job developing HAPPYBOND’s product line. She’s managed to create a clean, compelling consumer brand, build a stable business model, and partner with key influencer talent. Impressive 100% year-over-year revenue growth in 2020 — despite the pandemic — is another proof point that HAPPYBOND has the potential to scale. 

Next Section: Executive Summary

Executive Summary

HAPPYBOND is a pet wellness company selling primarily collagen supplements to help dogs move without pain, with future products (treats, dog food, etc.) in the works. The company had a good year in 2020, with more than 100% year-over-year revenue growth. Planned partnerships with Cesar Milan and Halle Berry could be just what the company needs to kick off a period of even stronger growth. 

On the other hand, HAPPYBOND products aren’t particularly differentiated, and there’s a strong risk of being wiped out by competitors in the pet care industry. While 100% year-over-year revenue growth is impressive, HAPPYBOND still isn’t generating that much revenue despite having been in business for several years, and it’s running at a deep net loss. None of this is a good sign for investors, who would buy in at a valuation that seems too high for HAPPYBOND’s current stage. Therefore, HAPPYBOND has been rated a Neutral Deal. 

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Happy Bond on Wefunder
Platform: Wefunder
Security Type: Convertible Note
Valuation: $5,000,000

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