SOURCE: Vet24seven

Vet24seven

August 18, 2015 09:00 ET

Vet24seven Receives Investment From Life Science Angels

Consumer-to-Veterinarian Mobile App Gaining Nationwide Momentum

SANTA CLARA, CA--(Marketwired - Aug 18, 2015) - Vet24seven today announced that the top ranked angel investment group in the U.S.1, Life Science Angels (LSA), invested in the company in a Series Seed 2 raise of $1.2 million. The lead investor for the round was Launch Capital, an LSA member.

Vet24seven is a free mobile app that provides access via live video or chat to local veterinarians. It launched in the Bay Area in July in an initial pilot and has gained regional attention and national interest from veterinarians wanting to improve and expand their client and patient relationships, and from consumers preferring the convenience of on-demand veterinary access for their animals.

"Vet24seven is meeting a great need in the veterinary market by providing a new way for animal owners and veterinarians to engage with each other," commented Cal Lai, chief executive officer at Vet24seven. "The national interest received from veterinarians in every specialty to join the Vet24seven Preferred Provider network confirms that veterinarians are ready to enter the digital age and engage with current and new clients and patients via telemedicine."

Life Science Angels is an angel investment group focused solely on biotechnology, genomics, diagnostics, medical device and mobile health companies. Since 2005, LSA and its affiliates have invested over $50 million in 50 companies which have received an additional $500+ million on follow-on funding from VCs.

"Sixty-two percent of American households include at least one pet2 and more than $15 billion was spent on vet care in 20143," commented Allan May, Chairman of Life Science Angels. "There is huge market potential for veterinarians to increase client acquisition and interactions and opportunity to dramatically enhance veterinary practices."

The Vet24seven app for animal owners can be downloaded to an Apple iPhone from the Apple App Store; an Android version will be available this fall. Owners simply create their animal's profile, pair their animal with the veterinarian of choice, select the level of urgency, and choose whether they want a live video or chat consultation. The Vet24seven app has two turnkey versions -- one for animal owners and one for veterinarians.

About Vet24seven
Vet24seven is an on-demand virtual veterinary service developed by veterinarians for veterinarians and pet owners. It provides animal owners with local veterinary consultations via their mobile device from veterinarians in the Vet24seven network to address medical or behavioral issues, general questions and advice. More information is available at www.vet24seven.com.

About Life Science Angels
Life Science Angels (LSA) was founded in 2004 by senior life science executives and experienced angel investors as a vehicle to bring angel capital to worthy early-stage biotech and medical device companies. Formally launched in January 2005 with backing of 15 industry sponsors, LSA follows a rigorous due diligence process before presenting investment opportunities to its membership. LSA also works with select angel groups, venture capitalists, and outside investors to syndicate opportunities requiring larger investments. LSA portfolio companies are improving the standard of care across a broad spectrum of therapeutic and diagnostic areas.

1 CB Insights
2 Humane Society of The United States
3 American Pet Product Association

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