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trupanion-g661590dcovpg002Seattle pet health insurance company Trupanion on Monday set the terms for its upcoming initial public offering, with plans to sell 8.1 million shares at $13 to $15 per share. At the $15 price point, the offering could bring in $122 million, including shares available to the company’s IPO underwriters.

It plans to trade on the New York Stock Exchange under the ticker TRUP.

Backed by Seattle-based Maveron, which owns a 33 percent stake, and others, Trupanion would be the second Seattle area company to go public this year, following in the footsteps of biotech Alder Biopharmaceuticals which went public in May.

Trupanion CEO Darryl Rawlings owns 13 percent of the company as of today, with that stake set to drop to 9.3 percent following the IPO.

The 335-person company said that it had 181,634 pets enrolled in the health insurance program as of March 31, 2014. That was up almost 600 percent in the past four years.

The company — which lost $4.9 million during the first quarter and has accumulated a $40.9 million deficit since it was founded — writes in its SEC filing that it is committed to getting pets the very best veterinary care.

“Our data-driven, vertically-integrated approach enables us to provide pet owners with what we believe is the highest value medical plan for their pets, priced specifically for each pet’s unique characteristics,” the company writes. “Our growing and loyal member base provides us with highly predictable and recurring revenue. We operate our business with a focus on maximizing the lifetime value of each pet while sustaining a favorable ratio of lifetime value relative to acquisition cost.”

Post updated on July 8 to correct enrollment growth rate.

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