Mixlab will use the funds to expand its team. Here are the top-line bullets you need to know.
Mixlab, a pet pharmacy, has raised $20M in a Series A funding round. The round drew participation from Sonoma Brands Partners, Global Founders Capital, and Brand Foundry Ventures, among others.
HOW’S THE COMPANY PERFORMING?
- New York-based Mixlab is a digital pet pharmacy that creates custom medications and wellness products for pets. It enables veterinarians to prescribe medicine and provides next-day delivery.
- The company reported 5x growth in pet parents and vets using its platform since 2019. It has seen revenue triple year-over-year.
- Mixlab currently ships to 47 states across the US and has around 100 employees.
WHY DOES THE MARKET MATTER?
- The veterinary healthcare market is expected to grow at a CAGR of 7.94% and reach a value of $49.76B by 2026, according to Market Data Forecast.
- Technological innovations increased pet adoption during the pandemic, and strong demand for veterinary care has fueled industry growth.