Total amount raised
$27.5 Millions
Latest funding date
03/01/2022
Location
Pawp has successfully raised funds through multiple rounds, with its latest funding round closing on March 1, 2022. The platform offers 24/7 access to veterinary doctors and nurses, providing instant care and personalized advice for pets.
Keep reading to explore the intricacies of Pawp's fundraising journey and the investors backing this innovative platform.
What Is Pawp?
Pawp, founded in 2019, is a digital health clinic and telehealth platform for pet owners. Headquartered in New York, the company connects users with veterinary professionals, offering services such as unlimited 24/7 access to licensed vets and a $3,000/year pet emergency fund.
Founded by Andrew Malek, Cody Simons, and Marc Atiyeh, Pawp operates with a team of 11-50 employees. The platform aims to provide immediate advice and support through various tools like a symptom checker and a blog with vet-backed resources.
How Much Funding Has Pawp Raised?
- Seed Round
- Amount Raised: $3M
- Date: May 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop the initial platform for telehealth services.
- Seed Round
- Amount Raised: $1.5M
- Date: December 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and increase user acquisition.
- Series A
- Amount Raised: $13M
- Date: May 2021
- Lead Investors: Lux Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To grow the team, scale offerings, and enhance the platform to meet the needs of pet parents.
- Venture Round
- Amount Raised: $10M
- Date: March 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand telehealth services and enhance technology.
Total Amount Raised: $27.5M. Current Valuation: Not publicly disclosed.
Key Investors
- Lux Capital
- Details: Lux Capital is a venture capital firm that invests in emerging science and technology ventures. They aim to support companies that are pushing the boundaries of innovation.
- Investment Focus Areas: Emerging science, technology ventures, healthcare.
- Notable Investments: Auris Health, Zoox, Recursion Pharmaceuticals.
- Good Friends
- Details: Good Friends is a venture capital firm founded by the creators of Warby Parker, Harry's, and Allbirds. They leverage their experience in building successful consumer brands.
- Investment Focus Areas: Consumer goods, services, health tech.
- Notable Investments: Warby Parker, Harry's, Allbirds.
- Ro
- Details: Ro is a health technology company that focuses on telehealth and digital health services. They aim to make healthcare more accessible and affordable.
- Investment Focus Areas: Telehealth, digital health services, healthcare.
- Notable Investments: Ro itself.
- Zocdoc
- Details: Zocdoc is a digital health marketplace that helps patients book appointments with healthcare providers. They focus on improving the healthcare experience for both patients and providers.
- Investment Focus Areas: Healthcare appointment booking, telehealth services, digital health.
- Notable Investments: Zocdoc itself.
- Eight Sleep
- Details: Eight Sleep is a sleep fitness company that develops technology to improve sleep quality. They focus on creating products that enhance sleep performance and overall health.
- Investment Focus Areas: Sleep fitness technology, health tech, consumer tech.
- Notable Investments: Eight Sleep itself.
What's Next for Pawp?
As Pawp looks to the future, the company is poised to capitalize on the growing demand for telehealth services in the pet care industry. With a substantial market of pet owners in the United States and a unique offering that combines 24/7 digital vet services with an emergency fund, Pawp has significant opportunities to expand its subscriber base and introduce more value-added services.
Given the oversubscription of its recent funding round, Pawp is well-positioned to attract additional investment to support its aggressive growth goals. Future fundraising efforts will likely focus on scaling operations, enhancing technology, and expanding service offerings to meet the needs of pet parents. However, the company will need to navigate challenges such as maintaining service quality while scaling and competing with traditional pet insurance providers and other digital health platforms.
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