The funding was led by San Francisco-based Founders Fund for a $ 40 million Series B cycle that closed in June. A $ 35.5 million Series A funding round led by Palo Alto-based True Venture Management and London-based Addition Capital closed in late 2020.
Upfront Ventures, based in Santa Monica, also participated in both tours.
The capital will be used for new clinics in Pasadena, Studio City and Playa Vista before the end of the year.
Plans are also underway to expand over the next 18 months to Orange County and the Bay Area, said Steve Eidelman, founder and CEO of the company.
âWe are rethinking every part of the business,â Eidelman said. âWe require you to be a member and to use a mobile app. It unlocks everything. “
Modern Animal’s first clinic opened in Beverly Grove in April 2020, just as the pandemic was forcing business closures around the world. But it turned out to be an opportune time to launch Modern Animal, as a key aspect of its strategic model is to provide cat and dog owners with a virtual connection with vets for consultation.
âYou can end up talking with a vet at 11 p.m. in Iowa, Idaho, or LA,â Eidelman said. âWe panicked when the pandemic first hit. But the digital platform that we built into our app was perfect for delivering this virtual hybrid experience.
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