Bond Vet raises $17 million to be the CityMD of veterinary care
Bond Vet, the NYC-based tech-forward veterinary startup, has announced the close of a $17 million Series A financing. The round was led by Talisman Capital Partners.
The startup has clinics across NYC that are meant to fill the gap between veterinary ERs and the veterinary equivalent of a primary care physician, modeling the business after CityMD. Unlike some other new veterinary startups, Bond doesn't require a membership to book an appointment. Pet parents can either walk in or make an appointment on the website or mobile app.
The startup also provides both urgent care and primary care, including regular vaccinations and check-ups.
Bond puts a particular focus on the design of the clinic itself, with high-friction floors so puppies don't slip and examination tables that give pet parents the ability to remain close to their furry friend during procedures or examinations when appropriate.
The company also has technology on the back-end for vets and nurses that make the process of providing care more efficient (like with note taking, for example) so that they can spend more time with the patients.
Bond has its own telehealth platform as well, to let pet parents text with their vet before and after appointments, or potentially even replace an appointment and solve the issue remotely.
Cofounder and CEO Mo Punjani explained that the efficiencies built in to Bond Vet allow the company to pass on savings to customers. While primary care services are on par with other vets, according to Punjani, emergency services can be rendered at a much lower cost than a traditional veterinary ER.
Pet spending is set to top $100 billion next year, according to the American Pet Products Association, as millennials opt to use higher-quality products for their animals. Startups across the pet ecosystem have capitalized on this new trend, and Bond Vet is among them.
The Bond Vet team, which includes in-clinic staff and HQ, is about 100 people, and 80 percent of employees are female.
Since launch in June of 2019, Bond has seen upwards of 15,000 unique pets in its clinics. The company plans to use the funding to keep building out its technology stack and expand its physical footprint, with plans to launch clinics in suburban areas next year.