VetVerifi, a St. Louis startup using software to streamline pet vaccination records, has raised $1.5 million in a pre-seed funding round.
Lead investor in the $1.5 million funding round was Lexington, Kentucky-based software company Bitwerx Inc. Other investors in the deal include Market Square Ventures, InvestTN, Digitalis Mars Companion Fund, R/GA Ventures and Michelson Found Animals Foundation Impact Investment Fund. Angel investors including undisclosed executives of pet care and technology businesses also invested in the round, VetVerifi said.
VetVerifi, founded in 2022, has created software to provide verification of pet medical records. It is designed 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. VetVerifi was named to St. Louis Inno’s 2024 Startups to Watch list.
"Closing our initial fundraise is a significant milestone for VetVerifi, and we are truly grateful for the trust and confidence placed in us by such an incredible group of investors,” said co-founder David Servodidio. “This funding will fuel our ambitious vision to better connect the pet care economy and enable greater interoperability of critical pet health information, creating a better world for pets everywhere.”
VetVerifi says it operates with dual headquarters in Nashville and St. Louis, with founders of the business located in both cities. Co-founder Tim Ridgway, based locally, said St. Louis serves as both a headquarters location and “our main operations hub where hiring and people development will occur.” VetVerifi’s fundraising figure includes a $75,000 equity-free grant it received from St. Louis nonprofit Arch Grants, which provides funding to startups and requires them to be based here to receive the capital.
VetVerifi commercially launched its technology in early 2023 and says it has started to work with veterinarian clinics and pet services providers. It previously told St. Louis Inno it finished 2023 with a pipeline of $750,000 in annual recurring revenue. The company said its pre-seed funding will help advance its product development initiatives and grow its user base. VetVerifi also expects to expand its team, with Ridgway saying it plans to publish two job openings in the second quarter this year for operations and client relations roles. VetVerifi has four full-time employees and four “dedicated” contractors, Ridgway said.
VetVerifi said its funding round total includes its recent selection to the newest class of startups chosen for Leap Venture Studio, a pet care-focused accelerator program staged by Mars Petcare, Michelson Found Animals and R/GA Ventures. The 12-week program provides a $200,000 investment to companies selected.
