The Vets wins $40M in funding round
The company intends to use the funding to increase its platform to an additional 25 cities throughout this year.
The Vets, a pet care company providing a home-care technology platform and focus on providing a positive work environment, has garnered $40 million in a seed funding round, led by Target Global, PICO Venture Partners, and Bolt Ventures. The company intends to use the funding to increase its platform to an additional 25 cities throughout this year.
“For too long, veterinarians have been overworked, underpaid, and under-appreciated. At our core, we believe happy, healthy pets come from happy, healthy vets,” said Daniel Sagis, chief executive officer and co-founder of The Vets. “This funding round will further position The Vets as the next generation of pet healthcare, leveraging preemptive technology, allowing us to strengthen our footprint and penetrate new markets much more efficiently and effectively.”
The Vets offers its services in Austin, Dallas, Denver, Houston, Miami, Las Vegas, New York City, Portland, Seattle, and Tampa. Through the company’s technology platform, pet owners can receive in-home veterinary appointments for their pets. Through The Vets’ model, at home pat care can restore a work/life balance and reduce incidence of burnout for veterinarians, according to the company. Appointments also may include guidance for pet care, nutrition, and educating pet owners.
"I joined The Vets because I was looking for something different than a traditional veterinary clinic. I missed the bond I created with my pet clients and patients as I had so many appointments throughout the day," said Dr. Amanda Cairncross, Veterinarian, DVM. "The Vets built an environment where I have more time to cultivate relationships. When I am able to help patients or pet parents that cannot physically get to the clinic for help, it is more rewarding for me."
Through at-home appointments, veterinarians are also able to observe the pet’s normal behavior in a comfortable environment. The Vets platform also encourages veterinarians to prioritize their mental and physical wellbeing by setting appointment limits each day and working a 4-day week.
"As the pet care industry doubles over the next decade, the healthcare system around it is fundamentally flawed," said Shmuel Chafets, chairman at The Vets and co-founder of Target Global. "We were energized by The Vets' willingness to challenge the $120 billion pet care industry and wanted to build a consumer brand together that would bring true value to veterinarians and pet owners by addressing the problem head-on."
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