Pet healthcare company FirstVet today announced the successful close of a €20 million Series C funding round.
Founded in Stockholm in 2016, FirstVet improves the efficiency of vet care by being the initial point of contact for pet owners. FirstVet's app connects pet parents to registered veterinarians for expert advice and clinic referrals.
In select markets, its service includes pet shops and pharmacies, allowing pet parents to access and purchase recommended products and medications vetted by vets.
With partnerships spanning over 60 major insurance companies globally, including Nationwide in the US, FirstVet offers its services at no additional cost to over 5 million insured pets.
The platform currently supports 400 veterinarians and nurses.
TELUS Global Ventures, the strategic investment arm of global technology company TELUS, led the round, which was supported by existing investors OMERS Ventures, Mubadala Capital, and Cathay Innovation.
“FirstVet is the only company offering pet telehealth on a global scale, and TELUS Global Ventures is an ideal partner for our next phase of growth,” said David Prien, CEO and co-founder of FirstVet.
“As digital vet services rise in popularity, driven by rapidly changing regulations, we are excited to bring our proven and successful platform from Europe to North America, where the market is booming and ready for us. We have already established ourselves as the essential telehealth partner to European pet insurers. With support from TELUS Global Ventures, we aim to scale our services in North America, extending our reach through new types of partnerships.”
“As a global leader in identifying and supporting innovative companies, we are pleased to increase our investment in FirstVet, a leading pet telehealth business providing a comprehensive digital care journey for pet parents searching for the best care for their pets,” noted Terry Doyle, Managing Partner, TELUS Global Ventures.
This funding will support FirstVet’s expansion, while accelerating product development to explore new types of partnerships.
Lead image: FirstVet. Photo: uncredited.
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