VALHALLA, NY – (COMMERCIAL THREAD) – Veterinary Emergency Group (VEG), the global veterinary emergency company that helps people and their pets when they need it most, announced a $ 100 million funding round co-led by D1 Capital Partners and Fidelity Management & Research Company LLC, and backed by Durable Capital Partners LP. Sequoia Heritage, a longtime supporter of VEG, funded the first two rounds of VEG.
This third round of funding will bring the total capital raised to approximately $ 150 million since its inception and positions VEG to continue investing in its people by providing the best support system and the best working culture in the veterinary field.
“We want to keep adding superheroes to our growing family of amazing vegetables. We will support and reward them for their contribution to our mission to help people and their pets when they need it most, ”said Dr David Bessler, Founder and CEO of VEG. “This third round of funding will allow us to continue recruiting the ‘best of the best’ in the industry and give them every chance to succeed professionally and find urgent long-term joy, the most fulfilling area of the industry. veterinary Medicine. ”
“The combination of four world-class investors is a big win for all of our VEGgies. This capital, expertise and network will continue to fuel our entrepreneurial spirit as we change the face of emergency veterinary medicine against multi-billion dollar corporate entities. We will always be Davids against Goliaths, ”said David Glattstein, president and co-founder of VEG.
The capital will allow VEG to continue to invest in its people, growth and culture in the following key areas:
- Recruitment: We will use these resources to continue to provide an environment where our VEGgies can brag about their work and make their friends jealous. We will dramatically expand and improve our talent pool to seek out the “best of the best” who are passionate about the VEG mission. Urgence is our middle name. That’s all we do, so we do our best. We pay more than anyone, offer more growth opportunities and offer unlimited continuing education. This funding fuels all of these initiatives.
- Nursing Salaries and Credential Support: VEG is proud to lead the field of veterinary emergencies by providing unparalleled compensation and accreditation support for veterinary technicians to make professional growth and sustainable career opportunities the norm.
- Equity opportunities: Every doctor and senior manager among us will have the opportunity to become a shareholder of VEG and to participate in the future of the company. There is no catch. Each doctor and senior manager will eventually become a shareholder.
- Repayment of school debt: Student debt is often the number one concern for new veterinarians and veterinary nurses, and VEG will offer a student loan assistance program that will pay them a monthly contribution directly, starting at $ 2,000 per year and up to $ 5,250. per year. Additionally, VEG offers new vets a scholarship that pays for a student’s fourth year of veterinary school.
- Well-being initiatives: In an industry with a high burnout rate, VEG has sought to create an environment that creates a healthy work-life harmony. VEG will continue to deliver wellness initiatives that address vital issues like compassion fatigue to support team members.
- Continuing education: VEG is invested in the professional growth of each VEGgie and offers unlimited continuing education and hands-on training with their mentorship and clerkship programs.
“We are proud to have partnered with the Veterinary Emergency Group in 2017, when VEG had two hospitals, less than twenty employees and a bold vision. Since then, David and David have performed superbly on their mission to transform veterinary medicine, building a team world class, and has cared for countless pets in times of acute need. Seven years after the company’s adventure began, this funding is accelerating VEGolution, which we believe is just beginning. ” , said Kevin Kelly, Senior Managing Director of Sequoia Heritage.
“VEG is revolutionizing the standard of care in emergency veterinary medicine and addressing important unmet needs. We are excited to support its disruptive delivery model which improves clinical outcomes and access for pets while creating unparalleled career opportunities and a fun work environment for all VEGgies, ”said James Rogers, analyst at D1 Capital.
About the Veterinary Emergency Group
Founded in 2014, Veterinary Emergency Group (VEG) is a company founded on one mission: to help people and their animals when they need it most. VEG’s rapidly growing hospital group has revolutionized the pet emergency experience with a customer-centric approach, rapid response times, and highly trained emergency-focused staff. VEG currently has 24 hospitals operating in nine states, including California, New York, New Jersey, Florida, Georgia, Colorado, Texas, Massachusetts and Illinois. To locate a VEG hospital near you or for more information, please visit veg.vet.
Sequoia Heritage is a private investment partnership investing on behalf of entrepreneurs and their philanthropists.
D1 Capital Partners is a global investment firm operating in the public and private markets. The firm combines the talent and operational experience of a large, leading asset management company with the flexible tenure and long-term time horizon of a family office. Founded in 2018 by Daniel Sundheim, D1 focuses on investing in the global Internet, technology, telecommunications, media, consumer, healthcare, finance, industry and of real estate.
Durable Capital Partners LP (“Durable”) is an investment manager focused on companies that have the potential to accumulate over time. Durable invests in the private and public markets with a long-term horizon, applying in-depth knowledge of compounding models to help executives create sustainable and sustainable businesses. Henry Ellenbogen, who was previously portfolio manager of T. Rowe Price’s New Horizon fund, co-founded Durable in 2019. www.durablecap.com