The disruptive veterinary care provider closes latest funding round, which totals $40 million and continues to expand its footprint in the Northeast, raising the standard of care for pets and pet parents
NEW YORK–(BUSINESS WIRE)–#funding–Small Door Inc., a tech-enabled, membership-based veterinary care provider who operates under the brand Small Door Veterinary, today announced $40 million in funding and plans to expand beyond their New York home base to five new locations in Boston and Washington, D.C.
This $40 million in Series B funding came from a consortium of investors led by the Chief Investment Officer of a leading private equity firm, with participation by C&S Family Capital and FS Investors as well as existing investors Toba Capital, Lerer Hippeau Ventures, Primary Venture Partners, and TriplePoint Capital. The funding will be used for expansion, including two new markets, as well as continued development of the Small Door platform.
“Building on the success that we’ve enjoyed in Manhattan and Brooklyn, this funding allows us to expand access to our unique model of veterinary care and ultimately allow more pets and pet parents to experience the Small Door magic,” said Josh Guttman, Co-Founder and CEO of Small Door.
In the first half of 2023, Small Door will open five new locations – two locations in the Boston area, including at Newton Centre (718 Beacon Street) and Brookline (297 Harvard Street), and three locations in the D.C. market, at Navy Yard (949 First Street SE), 14th Street (2110 14th Street NW), and Spring Valley (4301 49th Street NW). John Auber at RUE Realty represented Small Door in both Boston and DC.
“Small Door locations have performed tens of thousands of client consultations and have generated healthy cash flow for many months, with our most mature units delivering best-in-class results,” continued Guttman. “We’re confident these new Small Door sites, located in strategic areas in the Boston and DC markets, will follow a similar pattern.”
Small Door’s membership-based model of care reimagines the veterinary experience by providing a long overdue update from a one-size-fits-all approach to a more personalized and tailored offering, which includes 24/7 telemedicine and deliberate, attentive care delivered by medical staff trained at some of the world’s best veterinary programs in modern facilities equipped with the latest medical technology.
“The Small Door model has delivered among the highest engagement rates in the industry, measured by frequency of visits and ARPU, and this positions us well for continued growth and expansion,” said Guttman.
As part of this investment, seasoned growth investor Laura Sims joined Small Door’s board of directors representing the new investor group.
“Small Door has two distinct advantages in today’s investment environment – they generate healthy profits and they operate in a sector that is historically recession-proof and currently experiencing accelerating growth,” explained Sims. “Post-pandemic, pet parents are more obsessed and in love with dogs and cats than ever, and Small Door’s business model is exactly what people are looking for – delivering a personalized, modern, tech-forward approach.”
For more information visit https://www.smalldoorvet.com.
About Small Door
Small Door is a membership-based and technology-powered veterinary care platform designed with human standards that is better for pets, pet owners, and veterinarians. Small Door has evolved the relationship between pet owners and care providers through a reimagined experience that lowers barriers to care, provides greater convenience, and offers inviting spaces that make visits more enjoyable. Small Door is building the trusted brand in veterinary as a Certified B Corp with practices that are AAHA-accredited. Small Door currently operates five veterinary practices in New York City and has delivered tens of thousands of member consultations. To learn more about Small Door, visit www.smalldoorvet.com or visit Small Door on Instagram at @smalldoorvet.com.