Fuzzy lands $ 18 million Series B for telemedicine platform for pets

Fuzzy – The Pet Parent Company, a subscription-based start-up for animal health care, received new support as it aims to exploit $ 100 billion spent on pets only 2020, as well as democratizing access to pet care through the education of pet parents and virtual care options.

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Zubin Bhettay and Eric Palm started the San Francisco-based company as a domestic veterinary care company in 2016 after both experienced expensive and not so good experiences with taking their pets to care.

“I spent five hours at the vet for something that could have been monitored at home and got a $ 2,500 bill, which was more than I expected,” Bhettay, CEO of Fuzzy, told Crunchbase News. “Pet parents want care to be better, but are still lost and confused. There were no credible sources to go to. ”

To continue its development, Fuzzy raised $ 18 million in Series B funding under the leadership of Greycroft to provide the company with a total funding of $ 36 million, according to Bhettay.

Although the original version of the company received seed and Serie A financing, investors’ appetite was not as high. It also took too long to scale and expand, Bhettay said.

In 2019, the company went in a new direction – the pet space for e-commerce / telemedicine – in order to take advantage of the success of some subscription-based companies, such as. Curology, We have.

They created a personal pet care experience that provides veterinarian-recommended animal care and triage regardless of financial or geographic constraints. At present, more than 50 percent of the 200 million pets in the United States do not have access to veterinary care, Bhettay said.

Fuzzy’s subscription plans include a $ 16.99 per month ground plan, or $ 99 per year, giving users unlimited access to the platform. Many users found Fuzzy during an emergency, but continued to use it and asked other questions such as nutrition, life stage or preparations to bring a pet into the home, Bhettay said. He estimates that Fuzzy’s most committed customers use the platform at least three times a week, with an average of three times a month.

“Fuzzy is disrupting the $ 75B pet care industry by building a fully digital veterinary practice that gives owners frictionless access to care at a fraction of the cost,” he said. Ian Sigalow, co-founder and partner of Greycroft, in a written statement. “We are excited to support Fuzzy as they expand their team, build an exceptional service for pet lovers and take the vet directly to consumers.”

Investors participating in the round include existing investors Crosscut Ventures and Matrix Partners, as well as new investors Gaingels.

The new funding will enable Fuzzy to expand its product range over the next nine months and expand its team.

Although it took three years to reach 10,000 households, Fuzzy was able to reach the same milestone in the first six months of 2020 and is now up almost five times as much, Bhettay said. He expects to continue to see that type of tracks in the customer base, as well as revenue, in the future.

“We believe in being the front door of pet welfare,” he added. “Last year, everyone got a puppy, but in the back it led to increased abandonment and protection became overwhelming. People feel that they are not receiving support. We believe we can address this gap and set up pricing in a way that everyone can access. ”

Functional photo courtesy of Fuzzy
Blog role illustration: Li-Anne Dias

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