Funding to support recruitment, debt repayment, certificate support, nurse salaries, continuing education and welfare initiatives.
VALHALLA, NY, September 22, 2021 – (BUSINESS WIRE) – Veterinary Emergency Group (VEG), the global emergency veterinary company that helps people and their pets when they need it most, announced a US $ 100 million round of funding Dollars to that shared by. It is managed by D1 Capital Partners and Fidelity Management & Research Company LLC and supported by Durable Capital Partners LP. Sequoia Heritage, a longtime supporter of VEG, funded the first two rounds of VEG.
This third round of funding will bring total capital since its inception to an estimated $ 150 million and will enable VEG to continue investing in its people by providing the best support system and work culture in the veterinary field.
“We want to keep adding superheroes to our growing family of amazing VEGgies. We will support and reward them for their contribution to our mission to help people and their pets when they need it most,” said Dr. David Bessler, founder of VEG and CEO. “This third round of funding will enable us to continue to recruit the ‘best of the best’ in the industry and to offer them every opportunity to be professionally successful and to find long-term joy in emergency, the most fulfilling area of veterinary medicine.”
“The merger of four world-class investors is a great win for all of our VEGgies. This capital, expertise and network will further fuel our entrepreneurship as we transform the face of emergency veterinary medicine against multi-billion dollar corporations Davids versus Goliaths, “said David Glattstein, President and Co-Founder of VEG.
The capital will enable VEG to continue investing in its people, growth and culture in the following key areas:
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Recruiting: We will use these resources to continue creating an environment where our VEGgies can brag about their work and make their friends jealous. We will significantly expand and improve our talent team to look for the “best of the best” who are passionate about the VEG mission. Emergency is our middle name. It’s all we do, so we do it best. We pay more than anyone else, offer more development opportunities, and have unlimited training. It is through this funding that all of these initiatives are charged.
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Nursing Salaries and Skills: VEG prides itself on leading the veterinary emergency space by providing unparalleled pay and support for veterinary technicians to make professional development opportunities and sustainable careers the norm.
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Opportunities for equity: Every permanent doctor and every manager with us has the opportunity to become a shareholder in VEG and participate in the positive future of the company. There is no catch. Every full-time doctor and every manager becomes a shareholder at some point.
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Repaying School Debt: Student debt is often the number one concern for new veterinarians and veterinary nurses. In addition, VEG offers new veterinarians a scholarship for the fourth year of veterinary school.
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Wellbeing initiatives: In an industry with a high burnout rate, VEG has endeavored to create an environment that creates healthy work-life harmony. VEG will continue to offer wellbeing initiatives that address important issues such as compassionate fatigue to support team members.
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Further education: VEG invests in the professional growth of every VEGgie and offers unlimited further education and practical training with its mentoring and external programs.
Investor Quotes
The story goes on
“We are proud to partner with the Veterinary Emergency Group in 2017, when VEG had two hospitals, fewer than twenty employees, and a bold vision. Since then, David and David have excellently carried out their mission to transform veterinary medicine, assembling a world-class team , and looked after countless pets in times of acute need. Seven years after our inception, this funding accelerates VEGolution, which we believe is just beginning, “said Kevin Kelly, senior managing director, Sequoia Heritage.
“VEG is revolutionizing the standard of care in veterinary emergency medicine and addresses significant unmet needs. We are excited to support its disruptive delivery model that improves clinical outcomes and pet access while creating unprecedented career opportunities and a fun work environment for all VEGgies, ”said James Rogers, Analyst at D1 Capital.
Via veterinary emergency group
Established in 2014, the Veterinary Emergency Group (VEG) is a company with a single mission: to help people and their pets when they need it most. VEG’s rapidly growing hospital group has revolutionized the pet emergency experience with a customer-centric approach, fast response times and a highly skilled emergency staff. VEG currently operates 24 hospitals in nine states, including California, New York, New Jersey, Florida, Georgia, Colorado, Texas, Massachusetts, and Illinois. To find a VEG hospital near you or for more information, please visit veg.vet.
About investors
Sequoia Heritage is a private investment company that invests on behalf of entrepreneurs and their charities.
D1 Capital Partners is a global investment firm operating in the public and private markets. The company combines the talent and operational experience of a large, leading asset management company with the flexible mandate and long-term time horizon of a family office. Founded in 2018 by Daniel Sundheim, D1 focuses on investing in the global internet, technology, telecommunications, media, consumer, healthcare, financial, industrial and real estate sectors.
Durable Capital Partners LP (“Durable”) is an investment manager focused on companies that have the potential to grow over time. Durable invests in private and public markets with a long-term horizon and uses an in-depth understanding of compounder patterns to help executives build durable and sustainable businesses. Henry Ellenbogen, who was previously the portfolio manager of T. Rowe Price’s New Horizon Fund, co-founded Durable in 2019. www.durablecap.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20210922005550/en/
contacts
Media contact:
Denise St. Jean
Crumpet’s Corner for VEG
crumpetscorner@gmail.com
310.795.4811