FirstVet, a Swedish on-demand video platform for veterinary appointments, has raised an €18.5 million Series B round to fuel its international expansion. The round was led by London-based OMERS Ventures and supported by Creandum, which led the startup’s Series A.
Founded in Stockholm in 2016, FirstVet is passionate about improving the pet care industry, which suffers from high costs and veterinarian shortages. The company’s app coordinates on-demand video consultations between pet owners and registered veterinarians. The service is free of charge to its 200,000 users and partners with over 20 major insurance providers.
Ultimately, each party benefits: pet owners save time, money, and worry; veterinarians enjoy flexibility and better compensation; brick-and-mortar clinics focus medical care on urgent cases; insurance companies receive insight into care process and costs. In fact, the startup has a customer satisfaction rate or 99.4 percent, suggesting it is indeed realizing its mission.
“FirstVet is the first truly neutral stakeholder in the world to coordinate pet care. In what is a highly privatised industry, our reliable service provides value to the entire sector, and we are growing at an incredible rate,” says CEO and co-founder David Prien.
Henry Gladwyn, principal at OMERS Ventures, echoed Prien’s statement: “It’s rare for a startup to provide genuine value to the entire ecosystem in which it operates, with FirstVet quickly becoming an irreplaceable service for pet owners, and a trusted partner for vets, clinics, and insurance companies. FirstVet has ambitions to become the global leader in on-demand video veterinary appointments, and we are delighted to be on board to help them achieve this goal.”
The Nordic startup has raised a total of €24.5 million to date. Currently operating in the UK, Norway, Denmark, Finland, and Sweden, FirstVet will use its Series B funding to further expand into Germany, France, and the US.