Pawlicy Advisor Raised $6.5M To Help Pet Parents Afford Unexpected Veterinary Treatment

by Edwin Plotts
Pawlicy Advisor
Pet Insurance Blog
Pawlicy Advisor Raised $6.5M To Help Pet Parents Afford Unexpected Veterinary Treatment
With the successful fundraise of a $6.5M Series A, Pawlicy Advisor's pet insurance marketplace is transforming the industry. Read on to learn how.

We believe it should be easy & affordable to do the right thing for our pets.

Pet insurance is the first step in that journey.

In the last 12 months, Pawlicy Advisor became the leading pet insurance marketplace recommended by veterinarians across the US.

While veterinary costs rise and pet lifespans increase, many Americans are not able to afford medical treatment for their animal companions. In fact, of more than 20,000+ pet owners surveyed, less than 20% said they could afford a major vet bill without pet insurance.

The coronavirus pandemic has exasperated these strains, and simultaneously increased the number of new pet parents as adoption rates soar. This presents a unique window of opportunity to protect a larger percentage of the pet population than ever before - if we can make it easy for new parents to understand pet health costs and financing options.

Pawlicy Advisor’s recent Series A fundraise of $6.5M, led by Rho Capital Partners and Defy Partners (with contributions from Slow Ventures), is testament to the opportunity ahead.

Table of Contents:

Working With Veterinarians To Transform The Pet Insurance Industry

Most families in the US have a pet (67%, according to the 2019-20 APPA's National Pet Owners Survey) yet only around 2% of pets in the US are covered by a health policy.

With the surge in pet adoptions in 2020, vet teams are keen to advocate for resources that can help new pet parents budget for veterinary treatment - else we risk seeing a parallel increase in economic euthanasia.

Pet insurance is one such resource that has a massive positive impact on pet health, pet owner finances, and veterinary team wellbeing. The American Veterinary Medical Association released a report in 2017 citing that pet owners with pet insurance are more than 90% less likely to have to opt for economical euthanasia.

Veterinarians want people to be aware of the benefits of pet insurance, but there is no one-size-fits-all provider. With so many variables at play in determining which plan is the right fit (breed, age, location, etc.) for each unique pet, vets don’t want to risk their client relationship by recommending the wrong insurance provider. That’s why Pawlicy Advisor’s marketplace approach has veterinary teams across the country excited.

Ricky Walther, DVM, a veterinarian at Blue Ravine Animal Hospital in California, says, “Now when I talk about pet insurance, instead of overwhelming my clients with too many brochures, I can just recommend one trusted marketplace.

As a member of VetParters, Veterinary Entrepreneurship Academy, and the North American Pet Health Insurance Association - Pawlicy Advisor works closely with veterinary advisors to ensure our customer experience is aligned with the vet community.

VetPartners NAPHIA Veterinary Entrepreneurship Academy Logos

By supplying veterinary practices with free client education and team training, Pawlicy Advisor is leading the charge to simplify the pet insurance conversation.

Pawlicy Advisor’s Growth Continues To Accelerate

There is an enormous opportunity ahead, and the $6.5M investment from Rho Capital Partners and Defy Partners will enable Pawlicy Advisor to build more educational resources and further integrate with veterinary practices across the country.

Our team is also growing in every department.

Pawlicy Advisor is scaling fast to meet the rising demand from both pet parents and veterinarians, so jump aboard!

Our Pets Are Family

Too many people struggle to give their pets the care they need. Too many pets are suffering, abandoned, or euthanized.

Our vision is for pets to be treated, cared for, and loved as equals. We want to eliminate the need for pet parents to choose between their pets’ lives or unaffordable treatment.

Pawlicy Advisor exists to make it easy and affordable to do the right thing for pets.

You can find our recent funding press on Yahoo Finance, AlleyWatch, Crunchbase News, Wall Street Journal VC Daily, Fortune Term Sheet, Coverager, University of Connecticut, Cheddar, and PitchBook

Pawlicy Advisor Team Feb 2021 (Left to right: Woody, Aliyah, Edwin, Travis, Naomi, Nic's pup, Ricky, Kaelee)

Edwin Plotts, Director of Marketing at Pawlicy Advisor

About the author

Edwin Plotts

Foster/Rescue Parent & Director of Growth - Pawlicy Advisor

Edwin Plotts rescues and rehomes cats in Brooklyn, NY - while leading Pawlicy Advisor's brand growth. He's a pet parent of two rescued sibling cats: Greyson and Babs. He's also an avid volunteer with Flatbush Cats and The Toby Project.

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