Mike Frizell worked as an investment banker and management consultant. In January 2011 he began working on an online pet food idea at Vibewire in Ultimo, Sydney. James Edwards joined him and built the warehouse and delivery system before the shopfront.
The business launched in 2011 as Paws for Life. The first stock sat in a 16 square metre shed, and the first warehouse was a storage unit that needed a weekend of cleaning. AirTree Ventures invested in 2012, with Craig Blair as adviser and Chair. An early scare over missing stock turned out to be a ferret.
In 2014 the company renamed itself Pet Circle and raised A$3 million. It made the Deloitte fast-growth list in November 2014, and Frizell was an EY Entrepreneur of the Year finalist in 2015. Turnover passed A$70 million by June 2017.
In December 2021 an A$125 million Series C valued Pet Circle at over A$1 billion. Pet Circle launched pet insurance in May 2023 and raised A$75 million in July 2023.