Mixlab, a pet pharmacy, has created a digital platform that allows veterinarians to prescribe medication and sometimes have it delivered the same day to pet owners.New York-based company Mixlab raised $20 million Series A funding in a round led by Sonoma Brands. This round also included Global Founders Capital and Monogram Capital as well as Lakehouse Ventures, Brand Foundry, Lakehouse Ventures, Global Founders Capital and Lakehouse Ventures. Fred Dijols (Co-founder and CEO at Mixlab) said that Mixlab now has $30 million in total funding.Mixlab was founded by Stella Kim, chief of experience officer, and Dijols in 2017 to offer a better experience for pharmacists, with the veterinarian at their center.Dijols past experience is in healthcare investment banking and medical devices. He became interested in pharmacy after discovering TruePill, PillPack, and how they were creating modern pharmacies.He noticed that more pharmacy experiences were centered around home delivery and that the veterinary side was falling behind. Kim, an expert in user experience, met him and decided to bring technology into the industry.Kim stated that the pharmacy industry is rapidly changing and that technology allows us personalize the experience for pet parents, veterinarians, and pets. As important as dignity and empathy in healthcare, customer service is vital. Mixlab was founded with this in mind. While many companies may use technology to eliminate the human element, we use it to enhance it.Mixlabs technology offers a digital service that allows veterinarians to simplify their medication workflows and give them more time for patient care. Mixlabs technology allows for home delivery of branded, generic, and over-the counter medications. It also reduces clinics' on-site pharmacy inventories. The platform allows veterinarians to quickly write prescriptions and keep track of medication progress and compliance.The company also has its own compound pharmacy that specializes in creating flavored and dosaged medications on-demand.Pet parents no longer need to wait for medication and have to drive to the clinic to pick up their medications. The medication comes in a customized care package, which includes a note from your pharmacist, clear and simple-to-read instructions, and a new toy.As more people have pets, the adoption rate has increased. This also led to an increase in vet visits. The global pet care market has seen a boom and is projected to reach $343 Billion by 2030. It was valued at $208 Billion in 2020.Pet parents are spending more on their pets. A Morgan Stanley report found that 37% of pet owners would consider taking on debt to cover a pet's medical expenses. 29% would prioritize the pets needs over their own.The company plans to use the funding to expand its reach and improve its technology in order meet increased demand for veterinary care. It currently ships to 47 states, and Dijols anticipates that it will be fully national by the end. He expects to also hire more people in the executive leadership and sales teams.The company is already in New York and Los Angeles, and has grown 3x year-over-year. However, Dijols acknowledges that operating during the pandemic was difficult due to a large surge in orders that came in because veterinarians had to close their offices.Keith Levy (Operating Partner at Sonoma Brands, former president of Royal Canin USA pet food manufacturer) will be joining Mixlabs board. Sonoma Brands is focused in growth areas of the consumer economy. Investors were particularly interested in pets.Sonoma discovered that there was room for many players within the veterinary community. Mixlab was able to get medication out quicker than other companies, Levy stated.Mixlab's approach is not unique but it is better than most. We looked at their customer service metrics and saw that they had a great reputation and were focused on providing an excellent experience.
