BetterVet Raises $40M in Series A
BetterVet, Inc.the full-service mobile veterinary network, today announced that it has secured $40 million in a Series A financing. The financing round is co-led by Alta Partners and industry pioneer Bruce Hertzfelder, CEO and co-founder of BetterVet. BetterVet’s technology model allows a team of doctors and nurses to practice world-class medicine by visiting companion animals from the comfort of their homes. With a “white glove” service, BetterVet provides an elevated, warm, tactile and personalized veterinary experience for every pet and pet parent.
BetterVet currently operates in 25 markets, including Boston, Chicago, New York, Los Angelesand San Francisco. With the Series A funding, BetterVet will strengthen its presence in existing markets, add new markets and launch additional services.
Among the company’s founders are Bruce Hertzfelder, which previously launched VetCor, now one of the largest physical veterinary networks with more than 700 hospitals; Former AVMA President Dr. Jean de Jong, who is also president-elect of the World Animal Association; and
DIRECTV Veteran Caroline Goncebat, a graduate of MIT Sloan. Their modern, mobile approach to veterinary medicine promotes a better veterinary care experience for pets and their parents. The easy-to-use BetterVet app allows clients to schedule home appointments in real time, and BetterVet physicians are Fear Free® certified to minimize anxiety and stress for all family members.
“BetterVet was designed to facilitate access to care while improving the veterinary experience for pets and pet parents,” said Bruce Hertzfelder, CEO of BetterVet. “We are delighted to have Pete Hudson and High as our partners. They understand models of health care delivery through past investments and are committed to the future of veterinary home care. The additional capital combined with Alta Partners’ healthcare experience will help us expand our mobile care network across the country while maintaining our premier veterinary service for pets and their parents.
BetterVet’s technology platform also provides a more modern and flexible doctor and nurse experience in a veterinary job market that has been impacted by burnout and retention challenges. BetterVet’s exclusive web and app platform frees employees from a rigid schedule tied to brick-and-mortar hours. Mobile care teams can customize their schedules while enjoying competitive salaries and benefits. BetterVet’s technology enables real-time planning with route optimization, allowing employees to spend more time developing meaningful relationships with pets and their parents.
“BetterVet is leading the transformation of veterinary care for both pet owner and veterinarian. Given the recent shift in pet ownership towards a younger, technology-driven consumer base, BetterVet is uniquely positioned to succeed in this market dynamic. Bruce and the team at BetterVet have built a sophisticated platform that will lead the revolution in access to veterinary care while attracting and retaining the best talent in the industry,” said Pete Hudsondoctor, managing director at Alta Partners. “Our team here at High is very excited to work with Bruce and the team at BetterVet to ensure that pets and their parents across the country can enjoy the benefits of receiving high quality veterinary care in the comfort of their homes.
To support the strategic growth of BetterVet, Pete Hudson and Dan Adamsrecently CEO of VetCor, join BetterVet’s Board of Directors.
BofA Securities Inc. acted as exclusive strategic and financial advisor to BetterVet. BetterVet was advised on legal matters by Gunderson Dettmer Stough Villeneuve Franklin & Hachigian LLP. Cooley LLP acted as legal counsel to Alta Partners.
About Alta Partners
Founded in 1996, Alta Partners is one of the leading healthcare venture capital firms in the United States. High raised $2.6 billion in capital through 11 venture capital funds and invests in healthcare companies across the development continuum, from business creation to subsequent opportunities, and has funded more than 175 healthcare companies to date. day. In August 2022Recognized statistical reports High as the top performing biotech venture capital fund in the country. High has offices in the San Francisco Bay Area, denverand Jackson, WY. For more information, please visit altapartners.com.
BetterVet was established in 2020 as a family business with Desmond and Julia Hertzfelder as employees #1 and #4. The company is a leader in the veterinary industry with its mobile, virtual and stress-free approach to pet care. Combining modern technology with compassionate, world-class service, BetterVet provides a better veterinary care experience by meeting the animal in the comfort of their home while saving pet parents the hassle of bringing their anxious pets home. The veterinarian. BetterVet is currently available in 25 cities across United States. For more information on the BetterVet experience, visit bettervet.comor download the BetterVet mobile app on any mobile device.