Veterinary Company Modern Animal Closes $46 Million Round, Adds Mark Suster to Board

Modern Animal, a veterinary medicine company dedicated to reimagining pet care, closed a $46-million funding round led by Addition, True Ventures and Upfront Ventures, with participation from Founders Fund, alongside a strategic expansion of its board of directors.

Mark Suster, managing partner at Santa Monica-based Upfront Ventures, which has backed Modern Animal since its 2019 seed round, joined the company’s board alongside Karen Boone, former CFO of Restoration Hardware and current board member of Peloton, Sonos, CoreWeave and Rivian; Tony Conrad, partner at True Ventures; and Robbie Horwitz, partner at Addition.

“In a world where all investors can think about is AI all the time, it’s refreshing to back a company that, while leveraging technology, is completely dedicated to something we universally love – animals,” said Upfront’s Suster, in a statement.

The new funding comes on the heels of a period of significant growth, including 85% year‑over‑year revenue growth in 2024 to a now $100-million annual run rate. These results highlight the solid foundation built since the company’s inception, with upcoming advancements expected to play a key role in accelerating its path to sustainable profitability.

It will use funding to expand in-clinic and online virtual care by expanding services, including an integrated pharmacy and e-commerce platform, extended urgent care hours and expanded specialty care. It has 27 clinics across California, Texas and Colorado.

“This is an important moment for Modern Animal,” said Steven Eidelman, the company’s founder and chief executive, in a statement. “We’re growing our care offerings and investing in the technology that puts us in a unique position to better serve pets and their parents, empower our veterinary teams and build long-term value in a fast-changing industry.”

Information for this article was sourced from Modern Animal.