Vet-AI secures new investment in latest funding round

L-R Vet-AI COO Matt Elcock, Vet-AI Co-founder Paul Hallett, Vet-AI Co-founder Dr Sarah Warren, Director of Professional and Veterinary Affairs at Hill's Pet Nutrition Dr Hein Meyer, Vet-AI co-founder Dr Robert Dawson and Vice President and General Manager at Hill's Pet Nutrition Alain Semeneri.

Veterinary technology company, Vet-AI, has secured a combined investment from Hill’s Pet Nutrition and Correlation One Holdings (“Correlation”) as it moves forward with its mission to provide preventative veterinary care and ease pressure on veterinary professionals.

The latest round of investments will enable the business to further scale-up its operations with these strategic collaborations. It is the third investment for Vet-AI from Correlation. Vet-AI has now attracted a combined total investment of £12.6m from several strategic partners since launching in 2019.

Crucially, the backing of both investors will help to improve the lives of veterinarians and pets. The collaborations will open up digital veterinary care to millions of pet owners through Vet-AI’s innovative Joii Pet Care app. It will also enable Vet-AI to provide AI-powered technology solutions and assistance to veterinary practices, bringing the industry together to address the rise in demand for veterinary care. Joii Pet Care provides tools for veterinary practices so that a higher proportion of in-practice resource is utilised for more complex procedures – helping to reduce workload for veterinary professionals whilst increasing engagement overall.

Paul Hallett, co-founder of Vet-AI, said: “We’re delighted to confirm these really important funding rounds with two long-term strategic partners. They will help us undertake innovative work to provide a much-needed bridge between digital and face-to-face veterinary care. This combined approach will support even more pets and clinical professionals to thrive.

“We are focused on doing all we can to ease pressures in the industry while providing convenient and affordable access to veterinary care – underpinned by cutting-edge technology. Our natural collaboration with both Correlation and Hill’s Pet Nutrition mark an exciting chapter in the next stage of that journey.”

Dr Hein Meyer, Director of Professional and Veterinary Affairs at Hill’s Pet Nutrition, added: “We see Joii Pet Care as a powerful tool veterinary surgeons can take advantage of to alleviate stress and free up time and resources. Joii supports veterinarians by clearing more time for procedures that require their skill and expertise. We think vets will appreciate Joii’s many helpful functionalities, such as tele-triage, online follow-ups and check-ups.

“One of our top priorities is fostering and continually investing in the health, longevity, and satisfaction of our veterinary network. We see our work with Vet-AI as another step towards supporting veterinarians across the world.”

Working with established brand Hill’s Pet Nutrition will also add nutrition expertise to the Joii Pet Care offering. Veterinary surgeon Dr Robert Dawson, co-founder of Vet-AI, added: “These important strategic collaborations give us the ability to provide a truly holistic veterinary care offering, underpinned by expert knowledge and innovative technology. Nutrition is fundamental to the life of a healthy pet and we’re delighted to work with the esteemed Hill’s Pet Nutrition brand in combining our collective knowledge and expanded veterinary network. Together we can improve the lives of pets and vets across the globe through improved data insights.

“It’s no secret that veterinary practice colleagues are under increasing pressure. Our mission is to do all we can to alleviate that. I’m proud that Vet-AI, alongside our partners, can build on a way forward for the industry to deal with rising demand in a way that retains knowledge and passion within the sector.”

Egbert Le Roux, Director of Correlation, said: “We have been very impressed with the Vet-AI team to date and the way they approach their mission. We’re very much looking forward to working with them alongside Hill’s Pet Nutrition on the next chapter.”

Vet-AI was founded in 2017 by entrepreneur Paul Hallett in partnership with veterinary surgeons Dr Robert Dawson and Dr Sarah Warren. The trio set out to improve engagement and access to veterinary care and since launching its revolutionary app Joii Pet Care, they have conducted well over 150,000 consultations online and have received over 70,000 five-star reviews across platforms.

Joii Pet Care offers a “virtual veterinary clinic” created by world-class veterinary surgeons with the goal of taking some of the burden off local veterinary practices with preemptive tasks that pet parents can perform online directly in the Joii app. Joii’s proposition includes a free symptom checker, paid, in-app video calls with veterinarians and free vet nurse calls.

Lupton Fawcett, a minority shareholder in Vet-AI, provided legal advisory. Deal advisory was also provided by KPMG, BHW and CMS.