Amid the coronavirus pandemic, many doctors have moved their communication with patients online.
Austin (US)-based TeleVet has developed a pet telemedicine platform that lets veterinarians do the same.
Now the company has raised US$5mil (RM21.4mil) to accelerate expansion as demand for virtual appointments grows.
The funding round was led by Mercury Fund with participation from Dundee Venture Capital, Atento Capital, GAN and Urban Capital Network. The investment follows a US$2mil (RM8.5mil) infusion in January and brings the total amount raised by TeleVet to US$7.3mil (RM31.2mil).
TeleVet was founded in 2015 by Steven Carter and Price Fallin, who have technology backgrounds and met in college.
The company provides a mobile app that allows communication between clients and veterinary staff, enabling vets to examine pets, prescribe medications, update electronic health records and handle billing.
“Our primary innovation goal is to empower veterinarians and pave the path toward the future of veterinary telemedicine, ” said Steven Carter, TeleVet co-founder and CEO. “Our investors are completely aligned with our mission and vision to enhance the veterinary-patient relationship.”
More than 6,500 veterinarians in the United States are using TeleVet, the company said.
The company has expanded from five to 25 employees since January and plans to grow to 50 employees by the end of this year.
The company was originally called Horse Facts and provided a health management service focused on the sale and care of horses. But after talking to pet owners and veterinarians, the founders said they realised there was a lack of technology offerings in the veterinary field and pivoted to become Televet in 2016.
Americans spent nearly US$19bil (RM81.4bil) last year on the veterinary care, according to the American Pet Products Association. Meanwhile, demand for new online tools and services for vet care is growing, industry experts say. – Tribune News Service/Austin American-Statesman (Texas)/Lori Hawkins
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