Mixlab – a veterinarian-partnered pharmacy and leader in pet prescription and wellness solutions company – recently announced a $10 million funding round led by Vanterra Ventures, with participation from Lakehouse Ventures and others. And The investment will fuel Mixlab’s ambitious growth plans, enabling the company to expand its operations and product offering further, enhance its technology platform, and reach profitability.
The global pet care industry is surging, valued at $235 billion last year and expected to reach over $360 billion by 2030, driven by increasing pet ownership and spending per pet. And within pet care, animal health, which includes products and services for animal healthcare, is poised to overtake food and treats as the largest sector due to the rising demand for personalized care, preventative health, and advancements in veterinary medicine.
The company is disrupting this underserved market by creating a better pharmacy experience for veterinarians, pet parents, and pets. And Mixlab’s proprietary technology makes it easy for veterinarians to write and manage prescriptions, eliminating the need for back-and-forth phone calls and faxes, ensuring greater compliance, and improving financial outcomes. Mixlab makes a stressful time delightful for pet parents with personalized packaging, proactive text-based communication, and industry-leading turnaround times. Free next-day delivery is standard for customers in all 50 states.
Mixlab serves thousands of pet parents and veterinarians nationwide from its New York City and Los Angeles labs. And with this new funding, Mixlab has expanded operations with a third pharmacy in Florida, enabling the company to offer same-day delivery to customers in the Miami-West Palm Beach area as it does with its other two lab locations. And so far, Mixlab has primarily focused on compounded medications. In response to the overwhelming demand from veterinarians and pet parents to offer more products, Mixlab will continue to broaden its offering to include branded and generic medications and over-the-counter products and become the one-stop shop for all pet health and wellness needs.
Last year, Mixlab appointed healthcare operations veteran George Koveos as Chief Operating Officer and Libby Loskota as SVP of Sales and Marketing to oversee the company’s accelerated growth. And Koveos was previously the COO of Ro, a vertically integrated human healthcare platform that grew to a $5 billion valuation under his leadership. Loskota previously ran global marketing at TaskUs.
KEY QUOTES:
“This investment further validates our vision for creating a modern best-in-class pet healthcare brand and will allow us to continue expanding our capabilities, provide unmatched customer service, and make a positive impact on the lives of countless pets, pet parents, and veterinarians.”
— Fred Dijols, Founder and CEO of Mixlab
“Mixlab is disrupting the pet healthcare industry with its innovative technology platform and commitment to exceptional customer experience. The company’s customer service and retention metrics are exceptional. Mixlab has proven the value of their model and we are thrilled to be a part of their growth journey to become the most trusted healthcare brand for pet parents and veterinarians.”
— Ellis Fried, Vice President of Vanterra Ventures, who is joining the Mixlab board of directors
