About Covetrus
Covetrus is a company based in Portland (United States) founded in 2010 was acquired by Clayton Dubilier & Rice in May 2022.. Covetrus has raised $291.64 million across 7 funding rounds from investors including TPG, CD&R and Hillhouse. Covetrus has completed 3 acquisitions, including AppointMaster, VCP and Vcp.net. Covetrus operates in a competitive market with competitors including Blue Rabbit, Nordhealth, Mascotte Health, Dodo and TOPAZ Technologies, among others.
- Headquarter Portland, United States
- Stage Public
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Sectors
Healthcare
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$291.64 M (USD)
in 7 rounds
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Latest Funding Round
$250 M (USD), Post-IPO
Apr 30, 2020
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Investors
TPG
& 12 more
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Employee Count
Employee Count
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Investments & Acquisitions
AppointMaster
& 2 more
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Acquired by
Clayton Dubilier & Rice
(May 25, 2022)
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Leadership Team
61 people
Software Development Team
52 people
Product Management Team
43 people
Sales and Marketing
40 people
Finance and Accounting
33 people
Senior Team
15 people
Veterinary Team
14 people
Operations Team
12 people
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Funding Insights of Covetrus
Covetrus has successfully raised a total of $291.64M across 7 strategic funding rounds. The most recent funding activity was a Post-IPO round of $250 million completed in April 2020. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 7
- Last Round Post-IPO — $250.0M
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First Round
First Round
(06 May 2012)
- Investors Count 12
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr, 2020 | Amount | Post-IPO - Covetrus | Valuation |
investors |
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| Feb, 2019 | Amount | Post-IPO - Covetrus | Valuation |
investors |
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| Jul, 2017 | Amount | Series C - Covetrus | Valuation | Clayton Dubilier & Rice , Hillhouse |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Covetrus
Covetrus has secured backing from 13 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include TPG, CD&R and Hillhouse. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Global private equity investments are managed with long-term focus.
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Founded Year | Domain | Location | |
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Private investment firm focused on multiple sectors
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Founded Year | Domain | Location | |
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Early-stage and late-stage biotech and finance companies are funded.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Covetrus
Covetrus has strategically engaged in corporate development activities, having acquired 3 companies. Notable acquisitions include AppointMaster, VCP and Vcp.net. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Platform for animal wellness plans is provided to veterinary providers.
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2011 | ||||
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Software for real-time patient appointment management in healthcare is offered.
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2008 | ||||
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Security services for the defence sector are provided by Vcp.net.
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1997 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
|
2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Covetrus
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Covetrus Comparisons
Competitors of Covetrus
Covetrus operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Blue Rabbit, Nordhealth, Mascotte Health, Dodo and TOPAZ Technologies, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Provider of the compliance management solution for veterinary practice
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| domain | founded_year | HQ Location |
Cloud-based software for veterinary practice management is provided.
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| domain | founded_year | HQ Location |
Virtual triage and customer solutions are offered for veterinary practices.
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| domain | founded_year | HQ Location |
Dodo is recognized as an AI receptionist for clinics.
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| domain | founded_year | HQ Location |
Software for animal and clinical research compliance is developed.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Covetrus
Frequently Asked Questions about Covetrus
When was Covetrus founded?
Covetrus was founded in 2010 and raised its 1st funding round 2 years after it was founded.
Where is Covetrus located?
Covetrus is headquartered in Portland, United States. It is registered at Portland, Oregon, United States.
Who is the current CEO of Covetrus?
Benjamin Wolin is the current CEO of Covetrus.
Is Covetrus a funded company?
Covetrus is a funded company, having raised a total of $291.64M across 7 funding rounds to date. The company's 1st funding round was a Series C of $223.55M, raised on May 06, 2012.
What does Covetrus do?
Covetrus was founded in 2010 and is headquartered in Portland, United States. Veterinary software systems, including RxWorks and VisionVPM, are offered to support practice operations within the animal health sector. Revenue optimization and workflow streamlining are facilitated through these tools. Integrated software and hardware solutions are also delivered to enhance efficiency for veterinary practices.
Who are the top competitors of Covetrus?
Covetrus's top competitors include Nordhealth, Blue Rabbit and Mascotte Health.
How many acquisitions has Covetrus made?
Covetrus has made 3 acquisitions, including AppointMaster, VCP, and Vcp.net.
Who are Covetrus's investors?
Covetrus has 13 investors. Key investors include TPG, CD&R, Hillhouse, Viking Global Investors, and Wellington.
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