Small Door, an on-demand veterinarian telehealth service provider, raised USD 40 million in a Series B funding round led by the chief investment officer of an undisclosed private equity firm, with participation from new investors C&S Family Capital and FS Investors, as well as existing investors Toba Capital and Lerer Hippeau Ventures. As part of the investment, Laura Sims, a growth investor, joined Small Door’s board of directors. 

It plans to use the funds to open five more locations in Boston and Washington, D.C., in addition to its current headquarters in New York, in 1H 2023. It will also use the funds for further product development.  

Analyst QuickTake: Investor interest in veterinary telemedicine enterprises is rising because it is believed to be the most viable solution for veterinarians to broaden their customer base. Similar to Small Door, its competitors BetterVet (USD 40 million Series A in November 2022), Vetster (USD 30 million Series B in April 2022), Dutch (USD 20 million Series A in February 2022), and Fuzzy (USD 44 million Series C in November 2021) are expected to increase their market shares through startup acquisitions or product launches in new markets.