Veterinary care firm Petfolk has closed a Series A round for $40 million, a press release said.
Petfolk’s services allow for more connection in vets, pets and pet owners. The company wants to provide more accessible care for pet care, offering various technological enhancements, like scheduled on-site appointments, telehealth and mobile pet care access, and a 24/7 virtual care service to be rolled out later on.
“I couldn’t be more excited to have the support of this amazing group of investors and pet lovers as we set out to reshape the industry,” said Dr. Audrey Wystrach, Petfolk Co-CEO and Founder who has been practicing veterinary medicine for 25+ years. “This capital will allow us to rapidly expand our #1 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.”
Dr. Wystrach reportedly has over 25 years of experience in the veterinary industry. And co-CEO Michael Wystratch was recently CEO of prepared meal delivery company Freshly, which he sold for $1.5 billion to Nestle in 2020.
Michael Wystratch said the goal with Petfolk was “to be the most loved, fastest growing and eventually largest vet service provider in the country.”
There have been innovations in the pet care industry like many others, including Chewy’s recent move of adding more insurance and wellness plans for pet health offerings.
PYMNTS wrote that the program, called CarePlus, will give pet parents 24/7 access to the Chewy customer care team, the ability to connect instantly with vets through a telehealth service, and 100% coverage on eligible prescription medication, supplements and diet food purchases. The goal of CarePlus is to make a “seamless” end-to-end user experience for interactions with clients.
“Ultimately, CarePlus is well-positioned to increase the percentage of insured pets that walk through the doors of veterinary hospitals and ensure that they receive the best care possible,” the release said.