Israeli pet care platform The Vets has announced the completion of a $40 million financing round led by Target Global, PICO Venture Partners, and Bolt Ventures. The Vets provides at-home pet care through technological innovation and is redefining the pet healthcare sector with flexibility for pet owners, veterinarians and technicians including full diagnostics services during home visits.
The company was founded in 2021 by CEO Daniel Sagis, COO Dori Fussmann, and Target Global after the Covid pandemic popularized the convenience and safety of at-home services. The company launched its services in Miami, and then expanded to Tampa, Dallas, Austin, Houston, Portland, Seattle, Las Vegas, Denver, and is now launching in New York City. The Vets plans to expand to 25 more US cities in 2022. The Vets has served more than 7,000 pets, with high retention among its clients. Headquartered in New York, the company's development center is in Israel.
Sagis said, "For too long, veterinarians have been overworked, underpaid, and under-appreciated. At our core, we believe happy, healthy pets come from happy, healthy 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."
Target cofounder and The Vets chairman Shmuel Chafets added, "As the pet care industry doubles over the next decade, the healthcare system around it is fundamentally flawed. 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."
Published by Globes, Israel business news - en.globes.co.il - on January 30, 2022.
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