Toronto-based Vetster, a virtual veterinary and pet care marketplace, has secured C$12.25 million in financing. The round was led by Whitecap Venture Partners and Brightspark Ventures, with participation from Hedgewood and several angel investors, including Wealthsimple’s Michael Katchen. Vetster six months ago launched its veterinary telemedicine service.
Vetster Raises $12.25M CAD to Revolutionize Global Pet Care Industry
May 26, 2021
TORONTO–(BUSINESS WIRE)–Vetster, the world’s first comprehensive virtual veterinary and pet care marketplace, today announced it has raised a total of $12.25M CAD after only six months since launching its veterinary telemedicine service. The investment is led by Whitecap Venture Partners along with Brightspark Ventures, Hedgewood and angels including Wealthsimple’s Michael Katchen and Leen Li, Robert Halpern, and Jeff Fettes also contributing to the round. The raise comes on the heels of Vetster exceeding its initial growth targets by more than 250 percent. The investment will be used to fuel the company’s growth and help to expand its preventative and urgent care services including the company’s new mobile app for iOS and Android coming in early June.
Since its launch in November 2020, Vetster has quickly established its marketplace across the US and Canada, making it the largest veterinary marketplace available today. Pet owners are securing bookings each day with the thousands of top-rated veterinarians and veterinary technicians available in the Vetster marketplace. Vetster is on a trajectory to expand into new regions including the UK, Australia, Europe and Asia-Pacific.
“Vetster is pioneering the global pet-care industry at a critical time when digital-first solutions are needed to connect pet owners with veterinarians and improve access to care,” said Mark Bordo, CEO and CoFounder, Vetster. “As the industry adopts telemedicine as a viable path to treat their pet patients and provide care outside of the clinic and clinic hours, Vetster aims to be the leading platform used around the world.”
“The Vetster team’s expertise in building world-class marketplaces is impressive,” said Shayn Diamond, Partner at Whitecap Venture Partners. “The company’s growth trajectory, plans for international expansion, and vision for a multi-service pet health marketplace is nothing short of disruptive. We are excited to work alongside the team and help them meet the significant need of the market.”
In North America, pet ownership has reached an all-time high as a result of the pandemic and pet owners are spending more than $100B on their pets. At the same time veterinarians are seeing a rise in pets per practice of almost 50 percent. Responding to this growth and the desire for alternative methods of care during the pandemic, veterinary associations are changing regulations to fulfill this vital need through telemedicine, teletriaging, and online prescription services.
“It’s time veterinarians, technicians and their patients had a safe, secure online platform designed to meet their holistic pet health needs,” said Regan Johnson, CTO and CoFounder, Vetster. “Vetster is the destination for that care. From virtual appointments, triage, and prescription delivery to pet insurance and pet care products, the Vetster team is ready to deliver a transformative pet care experience.”
Vetster For Pet Owners
Vetster makes it easy for pet owners to find, book and pay for veterinary services via its online marketplace at vetster.com. Appointments are booked by the pet owner at a time convenient to them and their pet, without the stress of transporting their animal.
+ Safe & Secure: Harnessing the latest virtual healthcare technologies Vetster offers high-quality video and audio calls to enhance the virtual appointment experience.
+ Around the Clock Care: With thousands of veterinarians on the platform, pet owners can find care at any time needed including access to urgent care veterinarians to assess pet needs prior to going to an Urgent Care Hospital.
+ Wallet Friendly: With appointments for as low as $50, pet parents can affordably improve the care for their animals.
+ On the Go Convenience: *Coming Soon* the Vetster mobile app for iOS and Android makes it easy for pet owners to find, book and pay for appointments and explore the services in the Vetster marketplace.
Vetster For Veterinarians
Veterinarians and veterinary technicians wanting to expand their practice with telemedical services are able to set up their profile quickly. Connecting to new and existing patients with a powerful platform that manages the entire experience from booking to billing.
+ Expand Practice: Generate new streams of revenue at times that work for your clinic and schedule.
+ Support Remote Patients: Provide expert care to pets and their owners without the need to visit the clinic.
+ Easy Set Up: Online profiles are free to set up. Profiles take only a few minutes to set up with description of services, website, photos, appointment fees and schedule.
+ Automated Billing: Veterinarians receive weekly payments for appointments completed.
+ Care from Anywhere: *Coming Soon* the Vetster mobile app empowers veterinarians to conduct telemedical appointments, update availability, and respond to clients from their smartphone.
About Whitecap Venture Partners
Whitecap Venture Partners is a Toronto based early stage venture capital fund investing in high growth companies across three verticals: Information and Communications Technology (ICT), MedTech and Food/FoodTech. Its team of operators and investment professionals partner with entrepreneurs in verticals where they have deep domain expertise and can bring significant operational and strategic value to companies. Additional information is available at www.whitecapvp.com.
About Brightspark Partners
Brightspark is one of Canada’s top-performing venture capital firms, actively investing in exceptional entrepreneurs since 1999. The firm provides growth capital and expertise to disruptive, market-transforming Canadian tech companies in seed to growth stages. Brightspark made it easy for investors of every size to invest in venture capital opportunities that are sourced, vetted and fully-managed by their investment team. For more information, visit www.brightspark.com
Vetster is a veterinary telemedicine marketplace connecting veterinary professionals with pet parents over video, text or audio chat. From the comfort of home, pet parents can access quality virtual care in a matter of minutes, and veterinary professionals can set their own rate and schedule themselves according to personal preferences. Create a free account today at https://vetster.com.