Online vet triage service boosted by six-figure investment
A tech business that provides online vet triage services to pet owners across the UK 24 hours a day, seven days a week has secured new investment.
VidiVet has been named one of the UK’s Top 10 most exciting early-stage technology companies by Tech Nation. It was founded in March 2020 by experienced vet Ben Sweeney.
The Liverpool-based firm employs 60 people, including a global team of vets who work remotely.
In February Vidivet secured £310,000 from a group of business angels, typically high net worth individuals who invest in early-stage businesses with high growth potential, and now the company is to receive fresh investment from fund:AI run by Liverpool-based River Capital. The value of the six-figure investment is not being disclosed.
VidiVet says its app is providing enhanced operational efficiency and profitability to veterinary practices across the UK. It has won a number of new clients and is making inroads into the “lucrative” pet insurance ecosystem.
Fund:AI will support the business with not just capital but also AI expertise. This investment was led by David Walters of River Capital and was supported by Daniel Hayhurst of Brabners and Mike McMahon of Trowers & Hamlins.
VidiVet chief executive Ben Sweeney said: “Raising investment can be hard and many founders inevitably find it difficult to select the right partner to pursue their vision.
“From early meetings with the team at River Capital, it was clear that they not only understood what we have now but where we are going – which is of course critical.
“We live in a time where people are excited but also fearful of AI so it is lovely to be able to share our journey with pet owners and to utilise AI and machine learning to fuel our learnings and evolution as a company.”