Petfolk Announces $40M in Series A Funding to Revolutionize Veterinary Care

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Aug 24, 2022, 10:00 ET

Funding will be Used to Continue the Petfolk Team's Already Impressive Trajectory, with over 40,000 Pets Set to Receive Care in 2022, Representing 5,000% YoY Growth

CHARLOTTE, N.C., Aug. 24, 2022 /PRNewswire/ -- Petfolk, the new breed of veterinary care that offers a better connected community for today's vets, pets and the humans who love them, announced today the closing of a $40 million Series A fundraise. The round 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.

Petfolk is a modern vet practice built by vets who love pets. Petfolk is at the forefront of transforming the fragmented, understaffed veterinary industry by providing modern, accessible, professional pet care facilities accompanied by a proprietary technology and data platform for consumers. Family-founded by Co-CEOs Dr. Audrey Wystrach and her brother, second-time founder Michael Wystrach, Petfolk was created by a group of proven leaders that have built and scaled billion dollar businesses. Petfolk launched in 2020 and is currently operating in North Carolina, South Carolina, Georgia, and Florida and will see over 40,000 pets this year representing a 5,000% year over year growth.

"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," said Dr. Audrey Wystrach, Petfolk Co-CEO and Founder who has been practicing veterinary medicine for 25+ years. "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."

Co-CEO and Founder Michael Wystrach continued, "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."

Dr. Wystrach has 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. She is also a founding board member of the Veterinary Virtual Care Association. Michael Wystrach was most recently the CEO and Founder of the leading prepared meal delivery subscription service, Freshly, which he sold for $1.5 Billion to Nestle in 2020. Joining forces with his sister, Mike brings a myriad of expertise to Petfolk including finance, real estate, entrepreneurship, and technology.

Petfolk's world-class service and tech-enabled industry advances, from scheduled on-site appointments in a serene, stress-free designed space, to telehealth and mobile pet care access make it easier for pet parents and veterinarians to be seen and heard. The company will also soon be launching its new 24/7 virtual care service, a revolutionary offering that will allow pet parents access to expert advice and veterinarians; anytime, from anywhere. Petfolk sees itself intrinsic to the greater community of people with pets, and recognizes its differentiators are as much for pet parents as they are for their animals. The brand champions that with the right technology, tools and knowledge, pet parents will be empowered to make the best decisions for their dogs and cats.

"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," comments 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."

Also joining their journey as 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 Hassan (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).

To learn more about Petfolk and its upcoming announcements, please visit www.petfolk.com and follow along on Instagram @mypetfolk.

About Petfolk

Founded by vets who love pets, Petfolk is a new breed in pet care that provides a community of knowledge and accessible solutions right at pet parents' fingertips. Petfolk is beyond what your typical veterinary office experience would entail, as the brand embodies a community of care that makes it easier for pet parents and veterinarians to be seen and heard with advances such as 24/7 virtual and instant care, mobile pet care centers, technology for personal and transparent care plans, a vet-minded employment model, and stress-free designed spaces.

SOURCE Petfolk