St. Louis Inno is publishing profiles of its 2024 Startups to Watch this week. See the entire list of honorees below.
VETVERIFI
Headquarters: St. Louis
What it does: VetVerifi has created software to provide verification of pet medical records. The idea is to allow pet services providers, such as groomers and pet hotels, to easily access records from a veterinarian clinic to verify a pet’s medical records, including vaccinations. VetVerifi operates with a business-to-business model, providing its software to veterinarian clinics and pet services providers through a subscription model.
The latest: VetVerifi commercially launched its technology in early 2023 and has started to work with veterinarian clinics and pet services providers. It also raised financing to help with its growth plans. The company has started to generate revenue and said it finished 2023 with a pipeline of $750,000 in annual recurring revenue.
Why you should watch it: VetVerifi says it's bringing data verification technology to an industry that badly needs it. The company contends its technology offers stronger proof of vaccination, helping to keep pets healthier, while also saving time for pet service providers and veterinarian clinics in finding pet health care records. VetVerifi says its technology keeps pet service providers from having to call clinics to verify vaccinations, while simultaneously offering veterinarian clinics a patient records management software system that can be easily used for third-party verifications. VetVerifi’s launch comes as the pet care industry continues to grow, with a Morgan Stanley report projecting U.S. household spending per pet to be $1,320 by 2025 and grow to $1,897 by 2030.
What’s next: VetVerifi this month expects to close on its funding round with what it described as a globally recognized name as an investor in the deal. VetVerifi said it plans to continue growing revenue and usage of its technology in 2024 with a focus on adding new pet services providers and veterinarian clinics as customers.
More about VetVerifi
Year founded: 2022
Founders: Timothy Ridgway, David Servodidio, Christopher Lynn
Employees: Four full-time, plus three contractors
Capital raised: $1.3 million in pre-seed funding
Investors: The company declined to disclose, citing its ongoing fundraising round. It received a $75,000 grant in 2023 from St. Louis nonprofit Arch Grants.
