Petfolk Raised $40M in Series B Funding to Transform Veterinary Care

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Petfolk, the innovative veterinary care company, has raised $40 million in its Series B funding round, led by Movendo Capital. Existing investors, including White Star Capital and Idea Farm Ventures, also participated in the round. Petfolk, founded by CEO Dr. Audrey Wystrach, DVM, is revolutionizing the veterinary profession by providing services both in-person at cutting-edge pet care centers and virtually through the Petfolk mobile app.

The company’s rapid expansion from a single location in Charlotte, North Carolina, to 11 total locations by the end of 2023, with an additional 20 planned for 2024, has solidified Petfolk as the fastest-growing and top-rated veterinary service provider across the Southeast. Petfolk operates in North Carolina, South Carolina, Georgia, and Florida.

One of Petfolk’s key initiatives is the Petfolk Partner Program, offering veterinarians an opportunity to advance their careers. Through this program, veterinarians progress from Associate Veterinarians to Partner Veterinarians over time, gaining shared economics in their clinics and equity ownership in Petfolk without the risks associated with starting their own practice.

Dr. Wystrach emphasized the need for a supportive path to ownership for veterinarians, especially in light of the financial challenges faced by recent graduates burdened with substantial debt. Petfolk aims to make veterinary care more accessible, transparent, and welcoming.

The company’s dedication to providing quality care and exceptional medical outcomes for pets has earned them a Net Promoter Score (NPS) consistently above 90, making Petfolk the highest-rated veterinary clinic group in every market they operate.

Movendo Capital CEO Pedro Pereira Gonçalves expressed confidence in Petfolk’s vision and team, highlighting their commitment to delivering high-quality service and attention to detail. The funding injection will support Petfolk in its mission to become the preferred destination for both pet owners and veterinary clinicians.

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