Vets First Choice closes USD4m financing led by Venture Partners
Vets First Choice has closed a USD4 million financing led by new investor Polaris Venture Partners. Also participating were several existing investors including Borealis Ventures, Harbor Light Capital, David Shaw and Black Point Group.
Earlier this year Vets First Choice acquired VetCentric.com, creating the market leading veterinary partner-pharmacy provider licensed in 50 states and serving more than 6,000 veterinary practices. The new investment will support the company’s continued growth and expansion in the veterinary services and home delivery space, a market estimated to exceed $5 billion in the United States.
“Vets First Choice is a fantastic value proposition to veterinary practices and a trusted source for pet owners looking for high quality, convenient veterinary medicines,” says Kevin Bitterman, Principal at Polaris Venture Partners. “The company’s unique model supports the veterinary community’s demand for a personalized approach to prescription fulfilment, high-quality care, and competitive pricing. We expect that Vets First Choice will continue to build on its impressive leadership position in this rapidly growing market and will be a leading source of innovation for the veterinary services industry.”
“We are focused on delivering the highest quality services to our veterinarian practice partners and their pet owner clients across the country,” says Vets First Choice CEO Benjamin Shaw. “Polaris’s investment, strategic counsel and network of advisors support this mission. We are excited to be adding their depth of knowledge in both technology and consumer services to our team.”
Vets First Choice recently launched its next generation online shopping platform to its entire base of veterinary customers and pet owner clients. The company is committed to continued innovation of its suite of products and services to help veterinarians meet the evolving needs of the market and to better compete with internet pharmacies and retailers.
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