“We created Pawlicy Advisor to help address the rising cost of veterinary care, which is only being exacerbated by financial insecurity caused by the coronavirus pandemic,” said Woody Mawhinney, Co-Founder and CEO of Pawlicy Advisor. “Of more than 20,000+ pet owners surveyed, only 19 percent said they would be able to cover a $5,000 medical expense out-of-pocket. Pawlicy Advisor helps them find a more affordable approach to financially care for their pets.”
The new round of funding will propel the next phase of strategic company growth and will be used toward team expansion, platform development, partnerships, and educational outreach to consumers and veterinary offices.
The funding builds on expansive, 30% monthly company growth over the past year. In 2020, “thousands of veterinary professionals began referencing the educational benefits of Pawlicy Advisor’s marketplace. Our aim to help pet owners afford the cost of veterinary care is clearly resonating,” Mawhinney said.
Managing Partner of Rho Capital Partners, Habib Kairouz, commented, “Pawlicy Advisor is innovating in a market experiencing tremendous consumer adoption and rapid product launches. The business is well positioned to become the leading authority for pet owners budgeting for their pets’ care.”
With over 2.8 million dogs and cats insured across the U.S., and growing, Pawlicy Advisor is the trusted independent marketplace for finding the best coverage for your pet at the lowest rate. Veterinarians around the country use Pawlicy Advisor to help educate pet owners on how to budget for gold standard care. Founded in 2018, Pawlicy Advisor assesses insurance policies based on breed-specific health risks, pet age, location, and the fine print in each provider’s policy – to arrange insurance policies across top providers by projected lifetime cost and coverage value for each unique pet.
Source: Business Wire
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