Knoxville-based easyvet announces $5 million Series A-1 round
Easyvet, the rapidly growing Knoxville-based limited-service veterinary clinic franchise that we spotlighted earlier this year in this teknovation.biz article, announced last week the close of a $5 million Series A-1 funding round.
The latest infusion of capital comes about nine months after Nashville-based Relevance Ventures led the company’s $7 million Series A round. The Series A-1 round was led exclusively by UNAVETS, an animal healthcare investment portfolio backed by funds managed by Oaktree Capital Management L.P.
In a news release announcing the new funding, easyvet President Rivers Morrell said that the company’s partnership with UNAVETS “will continue to allow easyvet to provide world-class support and shared services for our franchisees.” Easyvet plans to use the new capital to grow its clinical support resources, increase learning management tools, focus on ways to improve the veterinary experience and improve technologies that contribute to the success of its franchisees.
Easyvet, the nation’s first walk-in veterinary franchise, provides franchisees with ongoing support in inventory management, financial automation, digital marketing, human resources and recruitment, clinical training and learning management, facilities support, and information technology/data reporting.
With 19 locations open in eight states, easyvet’s rapid expansion is on track to double in size in 2022. Currently, 27 locations in 20 unique markets are in the various stages of construction development.