Firstvet

About Firstvet

FirstVet operates as a digital veterinary clinic, providing pet owners with on-demand video consultations with licensed veterinarians. The company was founded in Stockholm, Sweden, in 2016 by David Prien and Joakim Widigs, with Per Victor also being mentioned as a co-founder in some reports. Prien, the current CEO, has a background in economics and previous experience in the pet industry with VetZoo, an e-commerce platform. This prior involvement in a content-driven site for pet stores that didn't successfully pivot to e-commerce highlighted the need for a service-oriented model, leading to the creation of FirstVet.

The company's core service allows pet owners to connect with veterinarians via a mobile app or website to address non-emergency issues like skin problems, vomiting, diarrhea, and minor injuries, functioning as a triage system to determine if a physical clinic visit is necessary. This model is designed to increase the efficiency and accessibility of pet care, potentially reducing costs for pet owners compared to physical consultations. FirstVet serves pet owners globally, with operations in the US, UK, Germany, and the Nordic countries. Its platform supports a wide range of animals, including dogs, cats, rabbits, horses, and other small pets.

FirstVet's business model is centered on a B2B2C strategy, primarily generating revenue through partnerships with pet insurance companies. The company has established partnerships with over 60 insurance providers globally, including major players like Nationwide in the US. For pet owners covered by these partner insurers, consultations are often free of charge. For those without affiliated insurance, FirstVet offers consultations on a pay-per-session basis or through monthly and annual subscription plans that provide unlimited access. In some markets, the company has expanded its services to include online pharmacies and pet shops, creating an additional revenue stream by allowing users to purchase vet-recommended products.

Since its inception, FirstVet has achieved significant financial milestones, having raised a total of over $83 million through multiple funding rounds. A key Series C round in November 2020 raised $35.6 million, and a subsequent round in June 2024 secured an additional $21.4 million, led by TELUS Ventures. These capital injections are aimed at fueling product development and supporting aggressive expansion, particularly in the North American market, which the company entered in 2020.