$11 million: Airvet attracts new funding round following significant growth

Demand for affordable and convenient veterinary services has fueled 4x year-over-year growth for Los Angeles-based Airvet, and investors are impressed.

The vet telehealth company has secured $11 million (€10M) in an oversubscribed Series B-2 funding round led by HighlandX, including HIPstr, the early-stage investment arm of HighPost Capital, founded by David Moross and Mark Bezos, the younger brother of Amazon Founder and CEO Jeff Bezos.

Vet shortage

Airvet has completed four previous funding rounds, including more than $18 million (€16M) in 2023. The company has benefited from California regulations allowing video consultations amid a shortage of veterinary staff.

“There are simply more pets coming into homes every year than there are veterinarians entering the workforce to care for them, driving the cost of care up and accessibility to all-time lows,” says Brandon Werber, CEO and Founder of Airvet.

“The emotional and financial stress it’s creating for hundreds of millions of families is what we’ve committed to solving at Airvet.”

The company offers its services as an employee benefit through companies such as PepsiCo, Adobe and Levi Strauss. This means employers can demonstrate their support for pet parents in the workplace while owners gain access to a range of services, from virtual vet visits to pharmacy and pet insurance.

Record utilization

Airvet has seen its client base surge threefold in the last year, and record numbers of employees utilize its services, thanks to an expansion of its care platform to include a more comprehensive range of services together with the addition of Spanish and French language provision.

Referencing the latest funding round on LinkedIn, Werber notes that pets hold a place in households as valued and loved family members.

“And right now, families are facing rising vet costs, long wait times, and fewer options for the care they need. More than anything, this is a huge testament to our incredible team that I am so fortunate to work alongside every day,” he writes.

Pet care investment

With the pet population increasing, investors are seeing opportunities in various segments of the veterinary industry.

Other recent fundraising includes a $2.8 million (€2.6M) seed funding round for VetVerifi, a Nashville company whose B2B compliance platform offers a secure, automated solution to verify pet vaccination records and share medical history between pet care providers. And another US firm, Vetigenics, raised $6 million (€5.5M) to advance its targeted antibody therapies for pets.

Destined for the pet industry

Although Airvet is Werber’s first pet-related business, he was perhaps always destined for the pet industry. He has previously worked in tech, advertising and talent management.

In a profile piece on Headline.com, Werber described growing up in “Dr. Doolittle House,” his childhood home, which always had at least 15 dogs and cats running around, along with a couple of pet rats.

Werber’s father was a vet, and he planned to follow him into the profession but realized that by using technology, he could help thousands of pets a day instead of the limited scope a veterinarian would have.

Driven leader

David Moross, Chairman and CEO of HighPost, explains what attracted him to invest alongside HighlandX, and Werber is key.

“Airvet embodies the qualities of a promising consumer company that HIPstr aims to invest in. It possesses an established brand within a high-growth industry, benefits from favorable long-term trends, and is guided by a driven and entrepreneurial leader,” he says. “We look forward to partnering with Brandon and the rest of his team to support the company’s growth and mission.”