the petTechcompany Pet Folk has raised $40 million

the petTechcompany Pet Folk has raised $40 million

News Summary:

  • And more to come as the startup has raised $40 million in funding. “This funding will allow us to rapidly expand our #1 rated veterinary operations to more communities, companion animals and veterinarians,” said Dr. Audrey Wystrach, co-founder and the company’s co-CEO said in the press conference. “Our goal is to make pet ownership and care much more enjoyable for pet owners and the amazing veterinarians who provide their services”. According to the company, Wystrach has over 25 years of medical, management and ownership experience in the veterinary industry.

  • Veterinary technology startup Petfolk forecasts an annual growth rate of 5,000% by the end of 2022 and has now seen $40 million in Series A capital go to market, including the participation. of more than a dozen celebrities. The startup, which launched in Charlotte in 2020, offers veterinary care at two of Charlotte’s physical locations and recently expanded to a Raleigh location along Six Forks Road. But the company also offers mobile veterinary services, powered by its proprietary technology, and plans to add a way for pet owners to access quality veterinary care 24/7/365, according to a statement.

This includes serving as COO and co-founder of Zippivet Pet Hospital in Austin, TX. Wystrach is also a founding board member of the Veterinary Virtual Care Association. White Star Capital and Michael Wystrach, founder of Freshly, led the round. And, according to the release, Miranda Lambert, Dierks Bentley, Jimmie Johnson and Danica Patrick are all well-known investors who participated in the Series A fundraising. The company was co-founded by Dr. Audrey Wystrach with her younger brother Michael Wystrach, who previously sold Freshly, which he founded, to Nestlé for $1.5 billion.

The expansion sites include locations in Holly Springs, Fort Mill, Huntersville and at least two locations in Florida, according to the company’s website. Audrey and Michael will both be co-CEOs of the company, according to the blog post. Pet tech startup Pet Screening, which raised $3 million last year in a Series A round, is also based in the Charlotte area.

In a blog post, Michael Wystrach writes that “Audrey’s vision is first and foremost to bring joy back to the veterinary field for everyone involved” and that conversations about the company that will become Petfolk have begun. starting three years ago. And while the company has launched three sites, it has plans to roll out more than 20 additional sites, dozens of mobile vet tech vehicles and, as Wystrach writes, “we just had a ton of cash, closing a $40 million Series A round”. The funds will be used to accelerate the company’s expansion, Wystrach writes.

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