Fuzzy Secures $18 Million Series B For Pet Telemedicine Platform
San Fransisco-based pet health care startup, Fuzzy — The Pet Parent Company has received a new $18M Series B Funding as it plans to democratize access to pet care through pet parent education and virtual care options. The firm also plans to tap into the $100 billion spent on pets in 2020 alone. The funding was led by Greycroft to take the total funding of the firm to $36 million.
Although the company had previously secured Series A Funding, it was taking too long to scale and expand. Consequently, it ventured into a whole new direction i.e. the Ecommerce/telemedicine pet pace with the aim of capitalizing on the success of subscription-based companies. And in order to do so, Fuzzy fostered a personalized pet care experience that provided vet-recommended pet care and triage regardless of financial or geographic constraints. This personalized care delivered through a subscription plan starts from $16.99 per month and $99 per year. However, the latter also includes unlimited access to the platform.
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Greycroft has joined the liking of already existing investors i.e. Crosscut Ventures and Matrix Partners, as well as new investor Gaingels.
“Fuzzy is disrupting the $75B pet care industry by building an all-digital veterinary practice that provides owners with frictionless access to care at a fraction of the cost,” said Ian Sigalow, Co-founder and partner of Greycroft, in a written statement. “We’re excited to support Fuzzy as they expand their team, build an exceptional service for pet lovers, and bring the vet directly to consumers.”
The idea of Fuzzy came to Co-founder & CEO, Zubin Bhettay alongside Co-founder, Eric Palm after they both suffered costly experience taking their pets to receive care, and that too through inadequate care. Talking to Crunchbase News, Bhettay said, “I spent five hours at the vet for something that could have been monitored at home, and got a bill for $2,500, which was more than I expected. Pet parents want the care to be better, but are often still lost and confused. There were no credible sources to go to.”
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It took three years for Fuzzy to get to 10,000 households and in 2020, the firm hit the same number in just six months and is now up nearly five times that amount. Going ahead, Bhettay expects a rising growth in the customer base trajectory. “We believe in being the front door for pet wellness,” he added. “Last year, everyone got a puppy, but on the flip side, it led to increased abandonment, and shelters got overwhelmed. People feel like they are not supported. We believe we can address that gap and are setting up pricing in a way that everyone can get access.”
He also talked about how users came to know Fuzzy. At first, customers would come in case of emergency but would stick around for additional information about nutrition, life stage, or repeating to bring a pet into the home. According to him, customers use the platform at least three times per week, with an average being three times per month.
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