The Vets and BetterVet Announce Merger, Ushering in a New Era of Pet Healthcare
NEW YORK, Oct. 28, 2024 /PRNewswire/ -- The Vets, Founded in 2021 by Daniel Sagis, Dori Fussmann and Shmuel Chafets, has gone on to transform pet care by combining technological innovation and at-home care. The merger is a major step forward for the U.S. pet care market, which is valued at $123 billion and serves 70% of US households (85 million pets). This merged entity will continue operating under The Vets brand, helping pet owners nationwide benefit from an expanded range of services, broader geographical coverage, and technological advancements.
As part of the merger, lead investors Shmuel Chafets from Target Global and Pete Hudson, MD, from Alta Partners, along with other existing investors, have made additional investments intended to further accelerate the growth and reach of the unified company.
This consolidation will significantly extend the company's reach, expanding its footprint to over 30 major U.S. cities. With more than 80 veterinary teams now operating across these areas, the two companies have treated more than 250,000 pets in their home. The newly unified organization is better equipped than ever to serve even more pet owners nationwide. This expansion enables the company to provide exceptional, compassionate veterinary care to even more pets and their families, reinforcing our dedication to accessibility, convenience, and top-tier service.
"We are excited to team up with BetterVet and further cement our position as market leaders," said Esben Mou, newly appointed CEO of The Vets. By joining forces, our companies are committed to revolutionizing pet healthcare. We share a vision of providing accessible, top-quality care for pets in their homes. Together, we'll expand our reach and bring our services to more pet owners across the country."
Dan Adams, chairman of the board, noted, "This merger aligns perfectly with our vision of extending access to patient care. With our combined strengths, we're not only delivering exceptional care but also pushing the boundaries of what's possible in veterinary medicine in terms of convenience and quality."
About The Vets
The Vets was founded in 2021 by Daniel Sagis, Dori Fussmann and Shmuel Chafets. The Company is a leader in at-home veterinary care focused on revolutionizing pet health management through advanced technology and personalized service. By delivering top-tier care directly to homes, The Vets eliminates the stress of clinic visits, providing a seamless and compassionate experience. With a skilled team of veterinarians, The Vets enhances pet well-being while strengthening the bond between pets and their families.
About BetterVet
BetterVet, a mobile veterinary, is redefining the future of pet care by delivering expert veterinary services directly to pets' homes. With a strong focus on at-home visits & telehealth, BetterVet ensures that high-quality care is not only more accessible but also more convenient.
About Target Global
Target Global is a pan-European technology investment firm with more than €3.5 billion in assets under management. Target invests in companies across all stages of their life cycle from pre-seed to pre-IPO across fintech, tech-enabled consumer, tech-enabled mobility, healthcare and software. Since 2012, Target has invested in global winners including Delivery Hero, Auto1 Group, Rapyd, WeFox, Flink, TravelPerk, Copper and many others. Target's experienced team of investors, many of whom started their journeys as entrepreneurs and operators, help exceptional entrepreneurs build leading companies that target trillion dollar markets. To date, Target has backed more than 100 companies including 11 unicorns, had 17 exits and 7 realized IPOs. Headquartered in Berlin, Target has offices across London, Tel Aviv, Barcelona and is constantly expanding to new geographies. To learn more about Target Global, please visit:
About Alta Partners
Founded in 1996, Alta Partners is one of the nation's premier healthcare venture capital firms. Alta has raised $2.6 billion in capital through 11 venture funds and invests in healthcare companies across the development continuum, from company formation to later-stage opportunities, and has funded more than 175 companies in the sector to date. In August 2022, Stat Reports recognized Alta as the country's top performing biotech venture fund. Alta has offices in the San Francisco Bay Area, Denver, and Jackson, WY. For more information, please visit www.altapartners.com
SOURCE The Vets
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