Pet Care Firm Petfolk Nets $40 Million for Expansion

Veterinary care company Petfolk has closed a Series A round for $40 million, a press Release said.

Petfolk’s services enable greater connection among veterinarians, pets, and pet owners. The company wants to provide more accessible care for pets, by offering various technological improvements, such as on-site scheduled appointments, telehealth and mobile access to pet care, as well as a service 24/7 virtual care service that will be rolled out at a later date.

“I couldn’t be more excited to have the support of this incredible group of investors and pet lovers as we set out to reshape the industry,” said Dr. Audrey Wystrach, co-CEO and founder of Petfolk who has been practicing veterinary medicine for 25+ years. “This capital will allow us to rapidly expand our #1 rated veterinary practices to more communities, pets and veterinarians. Our goal is to make ownership and care much more enjoyable for pet owners and the amazing veterinarians who provide their services.

Dr. Wystrach is said to have over 25 years of experience in the veterinary industry. And co-CEO Michael Wystratch was most recently CEO of convenience food delivery company Freshly, which he sold for $1.5 billion to Nestlé in 2020.

Michael Wystratch said the goal with Petfolk is “to be the nation’s most beloved, fastest growing, and eventually largest provider of veterinary services.”

There have been innovations in the pet care industry like many others, including Chewy’s recent decision to add more insurance and wellness plans to pet health offerings. of company.

Read more: Chewy expands wellness offerings with pet insurance

PYMNTS wrote that the program, called CarePlus, will give pet parents 24/7 access to the Chewy customer service team, the ability to instantly connect with veterinarians through a telehealth service. and 100% coverage on eligible prescription drugs, supplements, and health food purchases. . CarePlus’ goal is to create an end-to-end “seamless” user experience for customer interactions.

“Ultimately, CarePlus is well positioned to increase the percentage of insured pets that walk through the doors of veterinary hospitals and ensure they receive the best possible care,” the statement said.

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https://www.pymnts.com/acquisitions/2022/careem-makes-second-acquisition-this-week-with-denarii/partial/