Bought By Many acquires Vetbox

Pet health and insurtech company, Bought By Many, has acquired VetBox, the UK pet health subscription and fulfilment business, in a “major step” in the extension of its offering beyond insurance.

The full acquisition of the business follows an initial investment from Bought By Many in VetBox in 2020.

The acquisition of VetBox draws on investment from a $350m Series D funding round in June 2021 after the company gained unicorn status with a valuation of over $2bn through its holding company Many Group. The investment in Many Group represented one of the largest funding rounds in European insurtech in 2021.

Founded in 2016 by veterinary surgeon, Dr Will Woodley, VetBox was created to meet the growing demand for bespoke pet care and is best-known for its monthly flea and worming home delivery services and now reaches over 20,000 monthly subscribers in the UK.

Since the start of the pandemic, VetBox has seen a rise in owners looking for home care solutions and has shipped over 250,000 boxes since March 2020.

Steven Mendel, CEO and Founder of Bought By Many, said: “I greatly admire the business Dr Woodley and his team have built and we’re really excited to bring VetBox into the next phase of our growth. As a market leader, VetBox is a natural fit for us and has met the rising demand from owners for new ways to access pet health care head-on.

“We saw an increasing opportunity to place ourselves at the intersection of insurance, pet health care and physical experiences. By investing in like-minded businesses, we can go beyond the realms of pet insurance and step into the wider pet health ecosystem. We’re giving pet parents a rounded experience with a more holistic approach which includes access to cutting-edge vet treatment, supplements, nutritionists and behaviourists all in one place.”