Stockholm-based Firstvet has closed a $35 million funding round, just a year after raising €18.5 million in a Series B. Mubadala Capital led the round, with participation from Cathay Innovation alongside existing backers, OMERS Ventures and Creandum. The digital veterinary platform will use the capital to launch in the US.
The pandemic-driven boom in remote healthcare isn’t limited to humans. People are turning to tele-medicine to take care of their pets, as well.
Firstvet reports 150 percent year-on-year growth in July 2020 compared to July 2019. The company partners with over 40 insurance companies across Europe and business is largely centered in six markets, including the Nordics, Germany and the UK.
Now the Nordic company is ready to bring its video consultation service to North America, where it already has an operational team of 14 staff members. “However, we will not stop there, and next year will launch in Canada and France and strengthen our team in all markets,” adds CEO and co-founder David Prien.
Photo: Co-founders David Prien and Per Victor