May 27, 2022
AskVet, Lassie & 10 pet startups
🐶 Industry News
– Spoke with Laura Berg, part of the team at AskVet, this week. Founded in 2014, AskVet was the first company to offer virtual vet care in the US. Initially it charged customers for each consultation, but eventually switched to a monthly subscription model. Today the company has a network of 157 vets and has provided over 1.5 million chat and video consultations to pet parents. Laura mentioned that only 10% of the interactions involve providing medical advice; the majority are for behavior and holistic care.
In addition to having access to online vet advice, members get a pet ID tag and up to $1,000 in funding for emergency pet care costs. AskVet also offers a white label version of their service to large pet brands, including Banfield and Kong. The company is looking to raise a Series A round later this year. Laura can be reached via LinkedIn.
– US retailer Target has announced the 10 pet startups selected for its 2022 pet accelerator cohort:
- Awoo, a female-owned pet accessory brand (NYC)
- House Dogge, pet products made from sustainable materials (Portland, OR)
- KindTail, modern pet crates (Los Angeles)
- Kittio, cat toys (Houston)
- Mosaic, dog treats made from exotic proteins (ostrich, alligator, etc.) (Miami)
- MySimplePetLab, home pet medical tests (Denver)
- Pawket Treats, portable dog treats & dispenser (Bend, OR)
- PitPat, dog tracker (UK)
- Treat Collective, dog treats made from Superfoods (Fresno, CA)
- Wilder Harrier, sustainable dog treats (Montreal)
These companies will receive 5 weeks of mentorship from Target execs. Speaking of accelerators, Leap Ventures is accepting applications for its sixth cohort of startups focused on the European pet care market.
💰 Financing & Deals
• Lassie, a Stockholm-based pet insurer, landed a $12 million round to help expand beyond Sweden. Founded in 2020, the company markets its product as digital pet insurance. Apparently that means payments & claims are processed through a phone app.
• Easyvet, a US veterinary clinic franchise, closed a $5 million Series A round led by UNAVETS, a Spanish chain of vet clinics. Founded in 2013, Easyvet has 19 locations in eight states and expects to double this year.
🤷 Somewhat Relevant
• Review of the pitch deck that telehealth startup Dutch used to raise its $20 million Series A round.
• Whistle, makers of a popular GPS pet tracker, has released a new device, Health, that uses AI to monitor your pets behavior and wellness. No GPS tracking on the new device.
• The global pet services market is expected to reach $50 billion by 2030.