Easyvet acquires $7 Million Series A Funding led by Relevance Ventures
This investment round demonstrates a significant development in easyvet’s ability to expand and further offer convenient, affordable pet care.
Easyvet (“easyvet”), a growing US-based walk-in veterinary clinic group, has secured a $7 million Series A funding round led by Relevance Ventures. Founded in 2013, easyvet remains committed to ensuring pet care is more convenient and affordable while clinic ownership is simplified for veterinarians and investors.
According to a company release, its franchise model is evolving veterinary medicine, reducing the costs of quality pet care, serving the needs of pet owners and veterinarians, and offering more veterinarians the opportunity to launch their own practice.
This round of funding is led by Relevance Ventures, an early-stage investor based in Nashville, Tennessee, and the only non-tribe affiliated, privately owned and operated Native American venture capital firm in the nation. The company strategically invests in solutions that enhance people’s lives and contribute to the harmonic value of community.
“We are thrilled to partner with easyvet, with whom we share many values. We have a deep appreciation for the passion the easyvet team brings to improving the wellbeing of pets and people. They have a compelling vision, a disruptive approach, and a suite of services for the fast-growing pet care market,” said Cameron Newton, CFA, general partner at Relevance Ventures, in the release.
“We are proud to support their mission to reshape the veterinary medicine space. We look forward to joining the easyvet Board and working with them as they position themselves as industry leaders,” he added.
In addition, easyvet provides comprehensive wellness exams, core vaccines, parasite screening and prevention, microchipping, flea, tick and heartworm prevention, behavioral and lifestyle counseling, and beyond. If a companion animal requires surgery, easyvet has nearby partner practices that will perform surgeries. Furthermore, easyvet price checks local veterinary clinics in each market to confirm they are offering clients the most affordable rates and packages.
“We are extremely conscientious when it comes to capital, and in particular how it is being deployed to fuel our growth going forward. We plan to use this capital to grow our resources, expand new hires, increase learning management tools, focus on ways to improve the veterinary experience, and improve technologies that contribute to the success of our franchisees," said Tim Schoenfelder, easyvet CEO.
"Relevance stood out as a partner whose values and 'harmony investing' aligned well with our approach to improving the wellbeing of pets and their owners. Relevance understands our business and the market opportunity, and they appreciate our prudent approach to reimagining veterinary services," he continued.
Easyvet consists of 30 franchises and with 12 locations open in 7 states and is predicted to triple in size by 2022. Leasing and construction are in the works for the opening of 27 more locations across 7 states including Arizona, Florida, Texas, Georgia, Tennessee, Alabama, and Colorado.
Easyvet secures $7 million Series A funding with Relevance Ventures to advance growth in veterinary care industry. News release. Easy Vet. October 26, 2021. Accessed November 17, 2021. https://www.businesswire.com/news/home/20211026005129/en/Easyvet-Secures-7-Million-Series-A-Funding-With-Relevance-Ventures-to-Advance-Growth-in-Veterinary-Care-Industry