We learn more about how the New York company plans to use the capital injection.
Mixlab has announced a $10 million (€9.1M) investment from private equity firm Vanterra Capital and other investors, including capital firm Lakehouse Ventures, in its Series A funding extension.
The modern veterinary pharmacy has bases in Florida, New York and Los Angeles. It creates customized pet medication and wellness solutions while offering free next-day delivery in all 50 states in the US. In addition, the company provides veterinarians with the means to write and manage prescriptions digitally.
Founded in 2017, Mixlab has since received around $40 million (€36.6M) in funding. There are approximately 2,000 clinics in the US that use its services.
Where is the investment going?
The company plans to expand its product offerings to include branded and generic medications as well as over-the-counter products.
The multi-million-dollar investment seeks to help meet veterinary service client demands. The pet pharmacy also plans to use the funds to open another location in Miami.
Following the news, Ellis Fried, Vice President of Vanterra Capital, is set to join Mixlab’s board of directors.
Thus far, Mixlab has raised $40 million (€36.6M), according to its CEO and Founder, Frederic Dijols. Half of the investment was raised in 2021 during a Series A funding round.
The company was also recently named by Inc.5000 as one of America’s fastest-growing private businesses for the second year in a row. Inc.5000 ranks revenue growth on a percentage basis.
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