The veterinary company Modern Animal ensures $75.5M in the Series A and B funding to develop the company's platform further and to bolster expansion.
by Katie Pfaff
The veterinary company, Modern Animal, raised $75.5 million in two funding rounds. A series A funding raised $35.5 million, and series B raised $40 million. The funding will be used to develop the company's platform further and to bolster expansion.
"Since we opened our doors just over a year ago, we have had the honor of taking care of thousands of pets from across Los Angeles at both our West Hollywood clinic and virtually," said Steven Eidelman, founder, and CEO of Modern Animal. "Our goal is to build a better, more sustainable career for veterinary professionals and a better, more human experience for pets and their owners by examining every nook and cranny of the industry and fixing any problem we can find."
Modern Animal states that its mission is to redesign pet care for both veterinarians and pet owners. The company intends to improve the pet and pet owner experience by incorporating more technology, communication between the veterinarian and pet owner, and creating aesthetically pleasing veterinary clinics
The series A & B rounds were led by investors True Ventures, Addition, and Founders Fund. Founders Fund participated in the company's seed funding as well. The funding rounds also include two board members who bring experience in retail, experiential businesses, and scaling. On the other side of the equation, Modern Animal intends to enhance the veterinary professional's work-life through addressing many of the issues within the field, including outdated technology, high debt, communication problems, and stress.
"This team has invented not only the digital experience for veterinary care but also a new model of work for the people who care for our pets," said Tony Conrad, partner at True Ventures. "For pet owners, what was once a fragmented experience is now beautifully streamlined, turnkey, and pleasant. They can consult with vets 24/7 for their pets on the Modern Animal app. On the flip side, veterinarians are empowered with Modern Animal technology to provide world-class service. For them, it's less admin work, more meaningful work, and ultimately better care for pets, whether they're offering care at one of Modern Animal's in-person clinics or through remote consultations on the app.
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