Bond Vet Secures $170 Million Investment from Warburg Pincus

The New York-based veterinary care provider, Bond Vet, has recently finalized a $170 million funding round led by Warburg Pincus.

Having previously secured $17 million in funding towards the close of 2020, the company is modeled on the approach of human-focused clinics like CityMD. Currently, Bond Vet provides services throughout New York City and on Long Island.

The company aims to address a gap in the market, offering a service positioned between emergency veterinary hospitals and traditional primary care veterinary practices. No membership is required to utilize Bond Vet’s services; appointments can be scheduled online or through their mobile application, and walk-ins are also welcomed. Urgent and primary care are both offered, encompassing preventative care, vaccinations, and routine check-ups.

As a pet owner since May 2021, I have consistently chosen Bond Vet for my dog’s care. This review is based on my personal experiences and is not influenced by any special consideration from Bond Vet.

Advantages of Bond Vet

Bond Vet provides telehealth appointment options. While these are not universally effective – as pets cannot articulate their symptoms – they are valuable when the issue is readily apparent. The convenience of diagnosing and treating certain conditions remotely, without the need for travel, is a significant benefit.

A comprehensive mobile app is utilized by Bond Vet to maintain detailed records. Pet owners can access notes from previous appointments, download complete medical histories, and obtain proof of vaccinations through the application.

The pricing structure at Bond Vet is notably transparent and affordable, a departure from the often-complex cost models found in both veterinary and human healthcare. For instance, vaccinations are priced at $55 for both cats and dogs, and telehealth consultations are available for $50.

An on-site pharmacy facilitates quick prescription fulfillment. Medications can also be shipped directly to clients who have received a telehealth prescription and are unable to visit the clinic in person.

The clinic’s design prioritizes a comfortable and stress-reducing environment for pets. A designated treat station and separated seating in the waiting area minimize overstimulation from other animals.

Minor Considerations

Similar to the CityMD model, Bond Vet’s staffing approach means pets are unlikely to consistently see the same veterinarian or nurse. This can make establishing a long-term relationship with a primary care provider challenging.

The return of pet parents into the clinic alongside their animals following pandemic restrictions was notably delayed at Bond Vet. While surrounding businesses resumed normal operations, Bond Vet maintained a policy of excluding pet owners from treatment areas for an extended period. Pet parents were recently permitted back into the clinic, though not into the examination rooms.

While the need for worker safety during the pandemic is fully acknowledged, the policy of excluding pet parents, particularly as a new pet owner, was somewhat concerning. Without a pet owner present, an animal lacks direct advocacy during procedures. Although I trust the Bond Vet team, I felt uneasy sending my puppy for vaccinations without being present.

At peak times, Bond Vet can feel focused on high patient volume. When initially acquiring my puppy, I had numerous questions regarding his care, including bathing routines, diet, and appropriate chew toys. While we have visited Bond Vet frequently, the availability of staff to thoroughly address all questions is inconsistent.

Despite these minor points, I am satisfied with my experience using Bond Vet. This sentiment appears to be shared by many, as the startup has provided care to over 40,000 pets in the New York City area.

Mo Punjani, co-founder and CEO, stated the following regarding the new funding:

The additional capital will be allocated to expanding Bond Vet’s presence, and to investments in staff training, technology, and the overall company culture.