Petfolk closes $40M series A funding
by Katie Pfaff
The community-based veterinary care company, Petfolk, has raised $40 million in a series A funding led by White Star Capital and Michael Wystrach, founder of Freshly, a prepared meal delivery company. Participants in the funding also included Triple Point Capital, Miranda Lambert, Dierks Bentley, Mark Wystrach, Cameron Duddy, Jimmie Johnson, Erik Jones and Danica Patrick, according to a news release.
The financing is expected to be used to continue the company’s growth, which is currently on track to deliver care to 40,000 pets in 2022. This increase amounts to a 5,000% year over year growth rate.
Dr. Audrey Wystrach, co-chief executive officer, and founder at Petfolk, and a practicing veterinarian for more than 25 years, said the capital will allow the company to rapidly expand its highly-ranked veterinary practices to more communities, pets and vets. "Our aim is to make ownership and care significantly more enjoyable for pet parents and the amazing vets who provide their services," she said.
Petfolk aims to change veterinary practice from an understaffed and fragmented field into professional, modern, accessible care that is data-driven and bolstered by current technologies. Petfolk launched in 2020 and is operating in North Carolina, South Carolina, Georgia, and Florida.
"Our aim is to be the most loved, fastest growing and eventually largest vet service provider in the country," said Michael Wystrach co-chief executive officer and founder at Petfolk. "We are very unique in the space because we are long-term builders who believe there is opportunity to drastically improve the veterinary service industry for both the vet staff and pet parents."
Dr. Wystrach has over 25 years of clinical, managerial and ownership experience in the veterinary industry and is the co-founder and former COO of Zippivet Pet Hospitals in Austin, Texas. She is also a founding board member of the Veterinary Virtual Care Association. Michael Wystrach was most recently the CEO and Founder of the leading prepared meal delivery subscription service, Freshly, which he sold for $1.5 billion to Nestle in 2020. Joining forces with his sister, Mike brings his expertise to Petfolk including finance, real estate, entrepreneurship. and technology.
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