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Bond Vet, the NYC-based tech-forward veterinary startup, has announced that it has closed $ 17 million in Series A funding. The round was chaired by Talisman Capital Partners.
The startup has clinics across NYC designed to bridge the gap between veterinary emergency rooms and the veterinary equivalent of a family doctor, and model the business along the lines of CityMD. Unlike some other new veterinary startups, Bond doesn’t need a membership to book an appointment. Pet parents can either walk in or make an appointment on the website or mobile app.
The startup offers both emergency and basic care, including regular vaccinations and check-ups.
Bond pays special attention to the design of the clinic itself, with high-friction floors to keep puppies from slipping and exam tables that allow pet parents to stay close to their furry friend during procedures or exams if necessary.
The company also has technology in the back end for veterinarians and nurses that makes care more efficient (such as making notes) so they can spend more time with patients.
Bond also has its own telemedicine platform where pet parents can text their veterinarian before and after appointments, or possibly even replace an appointment and solve the problem remotely.
Co-founder and CEO Mo Punjani stated that the efficiency benefits built into Bond Vet allow the company to pass savings on to customers. According to Punjani, while basic care is on par with other veterinarians, emergency services can be provided at a much lower cost than a conventional veterinary emergency room.
According to the American Pet Products Association, pet spending will exceed $ 100 billion in the next year as millennials choose to use higher quality products for their pets. Startups across the pet ecosystem have benefited from this new trend, including Bond Vet.
The Bond Vet team, which includes employees in the clinic and headquarters, consists of around 100 employees, and 80 percent of the employees are female.
Since launching in June 2019, Bond has seen more than 15,000 unique pets at his clinics. The company plans to use the funds to continue building its technology stack and adding to its physical footprint. Clinics are to be opened in suburbs in the next year.