AUSTIN, Texas--(BUSINESS WIRE)--TeleVet, creators of the mobile telemedicine application virtually connecting veterinary clinics to pet owners, has closed a $5M Series A round of funding.
On the heels of the company’s $2.3M seed round in December 2019, the latest round of funding will enable the company to accelerate the growth of its platform and team, continue to enhance the customer experience and promote the wellbeing of veterinarians. The round is led by Mercury Fund, with additional investment by Dundee Venture Capital, Atento Capital, GAN and Urban Capital Network.
Industry Leader in Veterinary Telemedicine Paves the Way for Industry Innovation
Founded in 2015, TeleVet was one of the first to market with a veterinary telemedicine platform. Built from the ground up to enhance the relationship between veterinary practices, pet guardians and pets, TeleVet has quickly grown into the leading virtual care experience provider.
“Our primary innovation goal is to empower veterinarians and pave the path toward the future of veterinary telemedicine,” said TeleVet Co-Founder and CEO Steven Carter. "Our investors are completely aligned with our mission and vision to enhance the veterinary-patient relationship. As a result, we're well-positioned to not only provide a comprehensive, intuitive service for vets, but to improve relationships, care and quality of life for all.”
With a nationwide community of 6,500 veterinarians, TeleVet is rapidly growing at a critical time for veterinarians and pet guardians. As the COVID-19 crisis continues to reshape healthcare, TeleVet's vet-driven design is becoming the one-stop platform of choice enabling vets to operate their traditional clinics from anywhere. The platform integrates easily with IM, video and phone, enabling vets to examine pets, prescribe medications, update electronic health records, bill and more.
“When COVID-19 caused us to scale our virtual practice almost instantly, TeleVet was the ideal platform to continue high levels of patient care and to ensure trust,” said Dr. Jennifer Q, DVM of multiple veterinary practices utilizing TeleVet and a company advisor. “TeleVet fit intuitively into our existing workflow, and enabled us to change with the times without sacrificing the health and sanity of our patients, pets or staff.”
Investor Comments on TeleVet Series A Funding Round
“TeleVet meets a driving need in the veterinary industry, not only for a complete, end-to-end virtual care platform, but for a tool that fundamentally enhances quality of life for veterinarians,” said Mercury Fund Co-Founder and Managing Director Blair Garrou.
“TeleVet has a unique opportunity to help practices shape and accelerate their telemedicine strategy, setting a new standard of care,” said Allie Esch, senior associate at Dundee Venture Capital. “In the midst of the pandemic, TeleVet is seeing a spike in interest and usage as practice owners and operators look to the market for a solution that enables service and collaboration with pet owners in a digital context and while providing a much-needed revenue stream.”
“We have been impressed with TeleVet for quite some time,” said Michael Basch, managing partner at Atento Capital. “Over the last few years, we have watched the team grow and seize opportunities in full stride. As telemedicine becomes the new normal, we are eager to see TeleVet continue to expand as the platform of choice for vets and patients to connect, for many years to come.”
About TeleVet™
TeleVet provides an integrated mobile app extension to existing veterinarian practice management systems. The TeleVet app allows two-way communication between clients and veterinary staff, enabling telemedicine, appointment scheduling, digital prescriptions and much more. Now, veterinary clinics can provide a modern, mobile communications experience with their clients, saving them time and money as well as providing the latest in professional care. TeleVet integrates seamlessly into an existing office workflow in under one hour, with no setup fee and unlimited live support. Founded in 2015, TeleVet strengthens the relationship between veterinarians and their clients by embracing the Veterinary Client Patient Relationship. The company has strong financial backing, having raised over $7 million in venture capital to-date. For more information, please visit Televet.com.
