Felix&Fido Announces $4 Million Pre-Seed Funding Round to Fuel Launch of Premium Veterinary Services

Membership-Based Veterinary Company Offers Care Without Compromise via In-Clinic Appointments, At-Home Care and Telehealth

ISSAQUAH, Wash., March 23, 2023 /PRNewswire/ -- Felix&Fido, a technology-enabled veterinary services company and spinout of Pioneer Square Labs (PSL) that is reimagining the future of pet care, today announced its entrance into the market with a $4 million pre-seed funding round. Led by PSL Ventures, the funding will be used to launch Felix&Fido's premium, membership-based pet care plans, and deliver personalized and convenient pet healthcare through in-clinic, at-home and telemedicine services.

Innovation in the veterinary care sector has remained somewhat stagnant. The current service delivery model is outdated (i.e., lack of advanced technology, paper records), and traditional veterinary methods are headed to a breaking point. Even though the sector has historically been profitable and resilient to recessions, there is an urgent need for change to care for the influx of pet adoptions during the pandemic, overcome a significant veterinarian shortage and improve care provider burnout. This investment in pet care innovation from PSL Ventures is an essential step in implementing much needed change to the industry.

To address these issues, Felix&Fido has created a novel approach to serving pet parents by implementing a continuous care model that combines in-clinic, telehealth and at-home care. This innovative approach enables Felix&Fido to offer flexible care when and where it is needed. The company also supports a virtual model for an in-demand veterinary workforce which improves productivity and profitability, and ensures a more positive, empowered and entrepreneurial culture.

"The team at Felix&Fido started this company with a clear end goal in mind - to reimagine the veterinary care experience and change the status quo. This funding allows us to bring our veterinary service model to life and provide exceptional care to pets and pet parents," said Gavin Woody, CEO and co-founder of Felix&Fido. "The veterinary services industry is ripe for disruption, and we're confident that our approach to pet care will make a valuable difference for pets and providers - all without compromise."

Felix&Fido's membership plans support a less transactional pet care model powered by preventive medicine, customized care and vet team availability. Members can choose between an Entry, Essential or Enhanced plan depending on how much care their pets require. Examples of what some of the plans include:

• Unlimited appointments with no exam fees
• Priority access to urgent care at the clinic
• Visits at home by a veterinary nurse to triage and provide care
• Access to 24/7 telemedicine
• All vaccines
• Comprehensive wellness assessments including fecal analysis, urinalysis, blood pressure and eye pressure
• Support for pet insurance claims

Felix&Fido currently offers in-home veterinary service via its mobile nurse unit and will open its first clinic in Issaquah, Washington this May. The mobile nurse unit currently serves members residing in Bellevue, Issaquah, Mercer Island, Renton and Sammamish. Given positive customer and care provider traction, Felix&Fido is expecting additional clinic hub rollouts later this year.

"Felix&Fido's commitment to transforming the pet care experience is one of the many reasons PSL Ventures invested in the company," said Geoff Entress, managing director of PSL Ventures and Felix&Fido board member. "The Pacific Northwest is filled with pet owners looking for the best possible care for their pets. We believe Felix&Fido's model represents a major breakthrough for an industry in urgent need of innovation."

Led by PSL Ventures, Felix&Fido's funding round is also backed by Rover Group. The company anticipates additional funding leading up to the opening of its first clinic later this year. For more information and how to sign up for a membership plan that fits your pet's individual needs, please visit https://www.felixandfido.com/.

Felix&Fido (www.felixandfido.com) is a company committed to reimagining the future of pet healthcare. A premium, membership-based service model delivers reliable and transparent care through in-clinic, telemedicine and at-home services. Felix&Fido is investing in a technology-enhanced workflow for healthcare providers that will enable operational excellence and industry-leading efficiency for in-demand care teams. Backed by PSL Ventures, Felix&Fido won't just bark up the same old tree in the $34 billion annual market for veterinary services.

SOURCE Felix&Fido