TeleVet Raises $5M Amid Telemedicine Boom, Plans to Grow Team

by Ellen Glover
June 12, 2020
Austin-based TeleVet raised $5M, plans to grow its team
Photo: Shutterstock

TeleVet, an Austin-based startup that lets its users and their pets consult with veterinarians virtually, announced Friday it closed on a $5 million Series A round. This, plus a $2 million seed closed last January, brings the company’s total funding raised to $7 million.

The funding round was led by Mercury Fund, with participation from Dundee Venture Capital, Atento Capital, GAN and Urban Capital Network. TeleVet says the money will be used to “accelerate the growth of its platform and team.”

Founded in 2015, TeleVet allows pet parents and practitioners to communicate through text, email and video. The platform is meant to be easily integrated into an office’s existing workflow, allowing vets to have more control over their business and schedule. The company also has a partnership with Embrace pet insurance and Vetsource, a prescription delivery service, to enable telemedicine and digital prescriptions.

This model has been especially successful amid the COVID-19 pandemic, when virtual communication between patients and doctors is more crucial than ever. As a result, the company says it has grown rapidly and anticipates it will continue to do so as telemedicine becomes the new normal.

“TeleVet has a unique opportunity to help practices shape and accelerate their telemedicine strategy, setting a new standard of care,” Dundee Venture Capital senior associate Allie Esch said in a statement. “In the midst of the pandemic, TeleVet is seeing a spike in interest and usage as practice owners and operators look to the market for a solution that enables service and collaboration with pet owners in a digital context while providing a much-needed revenue stream.”

According to its website, the company is currently hiring for a number of roles in product, UX, sales and engineering.

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