Online Veterinary Platform Airvet Receives Investment

Airvet, a leading pet telehealth company, has received investment. The round was led by Canvas Ventures, Headline and Burst Capital, with participation from strategic investors including Bob Antin, Founder and xCEO. The company announced the closing of an $18.2 million Series B round led by Mountain Group Partners (MGP). This round of financing will support the continued expansion of Airvet's partnership with enterprise and employer customers.

Also See: Collaborative Robotics Receives $30 Million Investment

Airvet

Morgan Stanley forecasts that pet spending will increase to $1,320 per pet in 2025 and $1,897 in 2030. However, pet ownership costs continue to rise, so access to care is at an all-time low! According to a recent report, Mars Veterinary Health is making a prediction about veterinarians. It estimates that more than 41,000 veterinarians will need to enter the industry over the next decade to meet the projected healthcare needs of US pets in 2030.

An average of 2,500-2,600 graduates become veterinarians each year. By 2030, there is an estimated shortage of 15,000 veterinarians for US animals. This is a stressful situation for pet parents. It means they can expect caring for their pets to continue to be a stressful experience with financial and mental health implications!

Now that 70 per cent of US households are pet families, the ubiquitous nature of pet ownership and the evolving definition of family have created such an urgent need. Likewise, there is an urgent need for employers to reconsider how they define and expand their approach to health and family benefits.