CHARLOTTE – The veterinary technology startup Petfolk is anticipating a growth rate of 5,000% year-over-year by the end of 2022, and has now seen $40 million in Series A capital walk in the doors, including participation from more than a dozen celebrities.
The startup, launched in Charlotte in 2020, provides veterinary care in two Charlotte brick-and-mortar locations, and recently expanded to a Raleigh location along Six Forks Road.
But the company also provides a mobile veterinary service, powered by the company’s proprietary technology, and plans to add a method for pet owners to access quality veterinary care 24/7/365, according to a statement.
And more growth is coming, now that the startup has brought in $40 million in funding.
“This capital will allow us to rapidly expand our #1 ranked veterinary practices to more communities, pets, and vets,” said Dr. Audrey Wystrach, the company’s co-founder and co-CEO in the statement. “Our aim is to make ownership and care significantly more enjoyable for pet parents and the amazing vets who provide their services.”
According to the company, Wystrach has more than 25 years of clinical, managerial, and ownership experience in the veterinary industry. That includes serving as the chief operating officer and co-founder of the Austin, Texas-based Zippivet Pet Hospitals. Wystrach is also a founding board member of the Veterinary Virtual Care Association.
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“A ton of money”
White Star Capital and Michael Wystrach, the founder of Freshly, led the round. And, according to the statement, Miranda Lambert, Dierks Bentley, Jimmie Johnson, and Danica Patrick are all among the celebrity investors who participated in the Series A fundraise.
The company was co-founded by Dr. Audrey Wystrach along with her younger brother Michael Wystrach, who previously sold Freshly, which he founded, to Nestle for $1.5 billion.
In a blog post, Michael Wystrach writes that “Audrey’s vision was first and foremost to bring back joy to the veterinary field for everyone involved” and that conversations about the company that would become Petfolk had begun three years prior.
And although the company has launched three locations, it already has plans to launch more than 20 additional locations, dozens of mobile vet tech vans, and, as Wystrach writes “we just received a ton of money, closing our $40 million Series A round. “
The funding will be used to accelerate the company’s expansion, Wystrach wrote. Expansion locations include sites in Holly Springs, Fort Mill, Huntersville, and at least two sites in Florida, according to the company’s website.
Both Audrey and Michael will serve as co-CEOs for the company, according to the blog post.
The pet tech startup Pet Screening, which raised $3 million last year in a Series A round, is also based in the Charlotte region.
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