Why I Invested: Danica Patrick for investing in pet care startup Petfolk

Since the start of the pandemic, the healthcare industry has seen a drastic shortage of qualified professionals. And while much of the focus has been on doctors and nurses, there is a growing shortage of veterinarians as well, and that shortage is expected to worsen over the next decade.

Petfolk, formerly One Vet, aims to stop the bleeding and reshape the pet care industry as a whole as a new breed of veterinary practice with a number of programs and services aimed at easing burnout among vets and fostering healthier work environments for all. This includes eliminating non-competitive and performance-based pay for vets, pay equity and flexible hours.

The company recently raised $40 million in a Series A round led by White Star Capital and Michael Wystrach, founder of Freshly. Additional investors include a number of animal-loving celebrities, such as Miranda Lambert, Dierks Bentley and Danica Patrick.

Patrick, the most successful woman in American open-wheel racing history, recently shared more with her wealth for her decision to invest in the company.

  • starting: Pampered people
  • location: Charlotte, NC
  • Year of establishment: 2019
  • ASSESSMENT: He declined to disclose
  • Investment level: Series A
  • Number of employees: 120
  • Other major investors: White Star Capital, Michael Wystrach, Triple Point Capital, Miranda Lambert, Dierks Bentley, Midland’s Mark Wystrach and Cameron Duddy, Jimmie Johnson, Erik Jones, Ty Haney (founder of Outdoor Voices and TYB.XYZ), Trina Spear and Heather Hassan ( co-founders of Figs Scrubs), Carter Comstock and Alberto Lopez Toledo (co-founders of Freshly), Matt Lombardi and Kevin Moran (co-founders of Beam), David Nolan and Kevin Glynn (co-founders of Butternut Box), Mayur Gupta (CMO of Krayken), Bob Davis (founder of Lycos), Jason Finger and Billy Libby (co-founders of Upper90), Mark Cushing (founder of Animal Policy Group), Chris Kelly (founder of Antelligence), Arthur Rubinfield (founder of Airvision) and Seth Waugh (CEO of PGA of America)
Dr. Audrey Wystrach, co-founder and co-CEO of Petfolk, at one of the pet care company’s North Carolina locations.

Courtesy of Petfolk

Why did she invest, in her own words?

I have two dogs, Ella and Dallas, so anything to do with pets intrigues me. It kind of passes you by, how fast they grow, and every dog ​​parent knows that quality care is the foundation for giving your puppy a happy and healthy life. [Dr. Audrey Wystrach] and the Petfolk team truly cares for them with a level of compassion and expertise that is very hard to find. It has also made my life much easier.

As someone who travels often, I love the idea of ​​being able to live anywhere with my little ones and have their recordings available at different Petfolk locations. Their in-app telehealth option is also a lifesaver for any late-night mishaps.

From a business perspective, Petfolk is using proprietary technology to make caring for your pet seamless and easy, allowing the company to scale quickly and cost effectively.

On the consumer side, their pricing structure is transparent, which makes it easy for them to cut through the clutter compared to standard veterinary offices. I consider such factors with most companies I work with. Beyond personal passion, how does the business fit into the industry at large, are they doing innovative work, is it a service that many will find useful? Petfolk checks all those boxes.

This is an installment of Why I Invested, a series featuring celebrity investors from all different backgrounds and industries, revealing what inspired them to invest their money in a new business.

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