Austin’s Televet Lands $2 Million in Funding

Telemedicine has come to the pet market.

Austin-based Televet, an online platform that connects veterinary clinics to existing clients, announced that is has raised $2 million in seed-stage funding.

Dundee Venture Capital and Mercury Fund, co-led, the round with participation from GAN Ventures. Founded in 2015, TeleVet has raised $2.3M to date.

The company plans to

use the money to hire key employees and on product development to meet the demand for its telemedicine platform and apps.

TeleVet is focused on connecting the nearly 33,000 veterinary clinics and more than 160 million pet owners in the United States. It has created a communications platform that allows veterinarians to interact with their customers through texts, emails and video calls.

Televet is designed to give veterinarians more flexibility in their daily schedule by responding to clients online. The service also provides greater access to clients living in rural areas with limited veterinarian clinics.

“Over the past four years, we’ve become extremely close to our customers and the industry,” TeleVet Co-Founder and CEO Steven Carter said in a news release. “Running a veterinary practice can be stressful. You’re expected to be constantly available and always have the answers. We want to show veterinarians that we don’t just care about your practice, we care about you.”

Veterinarians can integrate TeleVet into their existing office workflow, instantly receiving and scheduling virtual consultations, online appointment scheduling, digital prescriptions and more. It also has partnerships with Embrace pet insurance, Vetsource for home prescription delivery and Covetrus’ practice management software.

“We’re bullish on the pet technology space, particularly solutions like TeleVet that serve both sides of the market. Pet owners have spent roughly $18 billion annually on veterinary care in the last two years, making veterinary care the fastest-growing category in Pet Tech,” Allie Esch at Dundee Venture Capital said in a news release. “TeleVet will power the next generation of veterinarians who are quick to adopt digital technology, recognizing that revenue, retention rates and care can improve through tech adoption.”

“TeleVet provides a modern, mobile experience for veterinarians and practice owners,” Blair Garrou, Managing Director at Mercury Fund, said in a news release. “Now pet owners can communicate with their vet as easily as they do with any other service provider. With more than 30,000 veterinary practices in the U.S., there’s a huge opportunity ahead for TeleVet.”