Millennials are opting out of marriage and kids and instead opting for pet ownership, opening the door for pet-centric businesses to grow.
Small Door is one such company. The startup has raised $3.5 million in seed funding to rethink veterinary services from the ground up. The funding was led by Lerer Hippeau Ventures and Primary Venture Partners, with participation from Foundry Ventures, Flatiron Health cofounders Nat Turner and Zach Weinberg, Warby Parker cofounders Dave Gilboa and Neil Blumenthal, among others.
Small Door operates on a membership model, not unlike OneMedical. The company gives members a certain number of annual check-ups, priority access to specialists, and virtual access to vets based on their membership tier.
By generating revenue through a membership model, the company can ensure that vets have enough time with each patient and simultaneously minimize wait times in the waiting room.
Moreover, Small Door was founded as a Public Benefit Corporation, identifying Small Door vets and pets as key stakeholders in the business. Suicide is a growing problem among vets, who often deal with mounting debt, compassion fatigue, difficult hours and even more difficult customers.
Small Door is looking to build a business that invests in the success and wellbeing of the vets as well as the shareholders.
The company plans to use the new funding to further build out the team and the product. Small Door also has plans to open its first Small Door clinic in the fall in NYC. (The above pic is a 3D rendering of the new clinic.)
Published at Tue, 30 Apr 2019 15:30:26 +0000