Petfolk announces $40M in Series A funding to advance veterinary care

Petfolk has announced the closing of a $40 million Series A fundraise. It was led by White Star Capital and Michael Wystrach, founder of Freshly, with participation from Triple Point Capital, and celebrity animal lovers Miranda Lambert, Dierks Bentley, Midland's Mark Wystrach and Cameron Duddy, Jimmie Johnson, Erik Jones, and Danica Patrick.

"I couldn't be more excited to have the support of this amazing group of investors and pet lovers as we set out to reshape the industry," expressed Audrey Wystrach, DVM, Petfolk Co-CEO and founder, in a company release.¹ "This capital will allow us to rapidly expand our #1 ranked veterinary practices to more communities, pets, and vets. Our aim is to make ownership and care significantly more enjoyable for pet parents and the amazing vets who provide their services."

Petfolk is helping to evolve the understaffed veterinary industry by offering modern, accessible, professional pet care facilities along with a proprietary technology and data platform for consumers. It was initiated in 2020 and is currently operating in North Carolina, South Carolina, Georgia, and Florida and will see over 40,000 pets this year.¹

Co-CEO and founder Michael Wystrach commented, "Our aim is to be the most loved, fastest growing and eventually largest vet service provider in the country. We are very unique in the space because we are long-term builders who believe there is opportunity to drastically improve the veterinary service industry for both the vet staff and pet parents."

Audrey Wystrach has over 25 years of clinical, managerial, and ownership experience in the veterinary industry and is the co-founder and former COO of Zippivet Pet Hospitals in Austin, Texas. Additionally, she is a founding board member of the Veterinary Virtual Care Association. Most recently, Michael Wystrach was the CEO and founder of the prepared meal delivery subscription service, Freshly, which he sold for $1.5 Billion to Nestle in 2020. Together the duo offers an abundance of experience and expertise.

Petfolk's high-quality service together with its technological advancements (eg, scheduled on-site appointments, stress-free designed space, mobile pet care access, etc) provide an excellent experience for pets and their owners alike. What’s more, the company will be debuting its new 24/7 virtual care service.

"At White Star Capital, we only invest in truly disruptive businesses that have the potential to change an industry for the better. Petfolk fits this description perfectly. Dr. Audrey Wystrach, Michael Wystrach and the team at Petfolk are combining decades of experience with veterinary medicine and innovative consumer technology to fundamentally transform the veterinary industry as we know it," said Eric Martineau-Fortin, founder & managing partner at White Star Capital.

"Our team is very excited to be working with Michael again (having been early investors in Freshly), and Dr Wystrach, to ensure the 70% of Americans who currently own a pet have access to the best possible care and support for their animals."

Additional investors are founders and industry leaders of other successful consumer brands including: 

• Ty Haney (Founder of Outdoor Voices and TYB.XYZ), 
• Trina Spear and Heather Hasson (founders of FIGS Scrubs), 
• Carter Comstock and Alberto Lopez Toledo (Founders of Freshly), 
• Matt Lombardi and Kevin Moran (Founders of Beam), 
• David Nolan and Kevin Glynn (Founders of Butternut Box), Mayur Gupta (CMO of Krayken), 
• Bob Davis (Founder of Lycos), 
• Jason Finger and Billy Libby (Founders of Upper90), 
• Mark Cushing (Founder of Animal Policy Group), 
• Chris Kelly (Founder of Antelligence), 
• Arthur Rubinfeld (Founder of Airvision),
• and Seth Waugh (CEO of PGA of America).

Reference

Petfolk announces $40M in Series A funding to revolutionize veterinary care. News release. Petfolk. August 24, 2022. Accessed August 24, 2022. https://www.prnewswire.com/news-releases/petfolk-announces-40m-in-series-a-funding-to-revolutionize-veterinary-care-301611117.html