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- Austin-headquartered digital communications platform gives vets and pet owners increased convenience without sacrificing the quality of care
- Seed round co-led by Dundee Venture Capital and Mercury Fund with participation from GAN Ventures
- Americans spent $18.1 billion in 2018 on veterinary care, one-fourth of the total overall spending in the U.S. pet industry
- Team looks to expand engineering and account management talent
AUSTIN, Texas–(BUSINESS WIRE)–January 7, 2020–
TeleVet, an online platform that connects veterinary clinics to their existing clients, has announced it has closed a seed funding round of $2M. The round is co-led by Dundee Venture Capital and Mercury Fund with participation from GAN Ventures, enabling TeleVet to further invest in key hires and product innovation to meet the growing demand for its telemedicine platform and apps.
TeleVet is on a mission to elevate the relationship between the nearly 33,000 veterinary clinics and the more than 160 million pet owners in the U.S. through seamless communication across familiar channels such as texts, emails and video calls. Veterinarians often face long hours with a variety of daily stressors. In many areas of the country, they might be the only practitioner for hundreds of miles, putting extra pressure on their schedule.
TeleVet is focused on alleviating these challenges for veterinarians through a better work-life balance by protecting their personal information and time, while still enabling them to easily provide care and generate revenue for their clinic.
“Over the past four years, we’ve become extremely close to our customers and the industry,” said TeleVet Co-Founder and CEO Steven Carter. “Running a veterinary practice can be stressful. You’re expected to be constantly available and always have the answers. We want to show veterinarians that we don’t just care about your practice, we care about you.”
Veterinarians can integrate TeleVet into their existing office workflow, instantly receiving and scheduling virtual consultations, online appointment scheduling, digital prescriptions and much more. Through partnerships with Embrace pet insurance, Vetsource for home prescription delivery and Covetrus’ practice management software, TeleVet gives practice owners valuable tools to comprehensively run every aspect of their office.
“We’re bullish on the pet technology space, particularly solutions like TeleVet that serve both sides of the market. Pet owners have spent roughly $18 billion annually on veterinary care in the last two years, making veterinary care the fastest-growing category in Pet Tech,” said Allie Esch at Dundee Venture Capital. “TeleVet will power the next generation of veterinarians who are quick to adopt digital technology, recognizing that revenue, retention rates and care can improve through tech adoption.”
“TeleVet provides a modern, mobile experience for veterinarians and practice owners,” said Blair Garrou, Managing Director at Mercury Fund. “Now pet owners can communicate with their vet as easily as they do with any other service provider. With more than 30,000 veterinary practices in the U.S., there’s a huge opportunity ahead for TeleVet.”
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 as little as five minutes, 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 raised $2.3M to date. For more information, please visit GetTeleVet.com.
About Dundee Venture Capital Dundee Venture Capital is a lead seed stage investor in high-growth technology businesses located in The Mighty Middle. Founded in 2010, Dundee Venture Capital has made 50 investments across 19 non-coastal cities in enterprise, consumer, and frontier sectors. We believe that some of the most impactful technology companies are being built outside traditional coastal hotbeds, and we strive to be the preferred seed partner for these businesses. Learn more by visiting: dundeeventurecapital.com or follow us on Twitter: @dundeevc.
About Mercury Fund Mercury Fund is an early-stage venture capital firm based in Houston, Texas and Ann Arbor, Michigan. With over $275 million under management, Mercury focuses on entrepreneurs and technology innovation originating in the U.S. Midcontinent. The firm’s investment themes target SaaS, Cloud, and Data Science/AI platforms that make the industrial ecosystems of Middle America more competitive and efficient. For more information, please visit http://mercuryfund.com/.
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