The global pandemic highlighted the convenience of home deliveries, extending to essential items for our beloved pets. With the pet care industry projected to soar to $368 billion by 2030, the demand for veterinary services is on the rise. While many companies are integrating technology into pet care, Mixlab is revolutionizing the veterinary pharmacy sector, offering comprehensive pet prescription and wellness solutions.
A Significant Boost in Funding
Mixlab recently announced an additional $10 million in funding, led by Vanterra Ventures, with participation from Lakehouse Ventures. This investment brings Mixlab’s total funds raised to an impressive $40 million. Ellis Fried, Vice President of Vanterra Ventures, will join Mixlab’s board of directors, marking a significant milestone in the company’s journey.
A Glimpse into Mixlab’s Journey
In 2021, Mixlab secured $20 million in Series A funding, leveraging proprietary technology to assist veterinarians in digital prescription management. The platform offers proactive text-based communication to pet owners, updating them on prescription statuses and ensuring free next-day delivery across all 50 states. Initially operating in New York and Los Angeles, Mixlab has since expanded its reach, boasting thousands of veterinarian and pet owner customers. The company has witnessed a 50% YoY sales growth, further solidifying its position in the market.
Expansion and New Offerings
The recent funding will enable Mixlab to establish a new facility in the Miami region. While the company began its journey as a compounding pharmacy, it has diversified its offerings to include branded and generic medications, as well as over-the-counter products tailored for pet health and wellness. Fred Dijols, Mixlab’s founder and CEO, envisions using the funds to enhance operational efficiency, expand product offerings, invest in technology development, and achieve profitability.
A Bright Future Ahead
Dijols is optimistic about Mixlab’s future, emphasizing the company’s robust technology platform and its commitment to creating innovative features for both veterinarians and pet parents. With a clear roadmap in place, Mixlab is poised to redefine the veterinary pharmacy landscape, offering unparalleled services to its growing customer base.
Please email us your feedback and news tips at hello(at)dailycompanynews.com