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Bond Vet receives $50 million funding round to further expansion

News
Article

Company has ambitious plans to continue growth in the US after adding 24 clinics just last year

Bond Vet, a provider of veterinary urgent and primary care services in the US, has secured funding of $50 million to support continued expansion. According to a company release,1 the latest round was funded by a consortium of current investors, including Warburg Pincus, Talisman Capital Partners, and Bond Vet’s co-founders, Zay Satchu, DVM; Mo Punjani, MBA; and Lukas Keindl, BS.

Photo courtesy of Bond Vet.

Photo courtesy of Bond Vet.

Bond Vet practices accommodate to an array of patient and pet owners needs by taking in pre-scheduled appointments and walk-in visits while also offering telehealth services. Additionally, Bond Vet has a modern design for an inviting, comfortable atmosphere to address the various pets and clients it serves.

Its most recent financing round was in October 2021,3 with a $170 million investment from Warburg Pincus. Since Bond Vet was initiated in 2019,4 it has opened over 40+ clinics across the nation and has provided care to approximately 400,000 pet visits.

With Bond Vet practices currently in New York, New Jersey, Connecticut, Washington DC, Boston and Chicago, this latest capital infusion will allow the company to further its growth plans in the US.

Garrett Lewis, MBA, MS, was recently appointed to CEO of Bond Vet in June of this year.5 The funding round displays the investor’s confidence in Bond Vet’s plans for expansion, its team, and Lewis’ leadership, according to the release.1

"Witnessing the remarkable journey Bond Vet has undertaken since its inception is nothing short of inspirational,” expressed Lewis.1 “The company’s unparalleled commitment to advanced pet care combined with a seamless, thoughtful, and delightful client experience is groundbreaking. This funding will undoubtedly bolster our mission to redefine pet health in communities nationwide. I’m thrilled to partner with the stellar Bond Vet team to bring our mission of strengthening the human-animal bond across the US."

“Warburg Pincus has consistently seen the promise in innovative businesses that are spearheaded by dynamic leadership. Our conviction in the potential of Bond Vet has deepened with the exceptional growth in the number of communities served and is furthered by Garrett [Lewis] and his leadership team,” added Pranav Verma, principal, Warburg Pincus.

“We're excited about Bond Vet's future and its ability to redefine the pet care landscape. Bond Vet continues to deliver exceptional care to its clients, and the demand for their unique services continues to thrive. We look forward to Bond Vet expanding its presence across the US,” shared Matt Bennett, partner, Talisman Capital Partners.1

References

  1. Bond Vet announces $50M funding round to accelerate expansion. News release. Bond Vet. October 16, 2023. Accessed October 17, 2023.
  2. Burke J. An inside look at Bond Vet’s design. September 27, 2022. Accessed October 17, 2023. https://www.dvm360.com/view/an-inside-look-at-bond-vet-s-design
  3. Bond Vet receives a $170 million investment from Warburg Pincus. dvm360. October 14, 2021. Accessed October 17, 2023. https://www.dvm360.com/view/bond-vet-receives-a-170-million-investment-from-warburg-pincus
  4. Hi, we're Bond Vet. Bond Vet. Accessed October 17, 2023. https://bondvet.com/about-us
  5. Bond Vet appoints Garret Lewis to CEO. dvm360. June 23, 2023. Accessed October 17, 2023. https://www.dvm360.com/view/bond-vet-appoints-garrett-lewis-to-ceo
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