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🦄 Unicorner Startup of the Week: Pawp
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✍️ Notes From The Editors
Remember our issue on OpenSea? As of last week, the team raised a $100 million Series B at a $1.5 billion valuation, officially bringing them to unicorn status! We're excited about OpenSea's future—as always, we pride ourselves on bringing you the most promising startups every Monday, and hope that each one we cover becomes a unicorn.
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Pawp wants to slash the cost of vet visits through telehealth. The company states that 60% of pet issues can be solved over the phone and that a $100+ in-person visit isn’t always required. For a monthly fee, Pawp offers unlimited telehealth visits with vets and pet experts, as well as a $3,000 safety net for emergencies.
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💰 Business Model
Pawp charges a monthly membership fee of $19. One membership covers up to six pets and includes a yearly $3,000 fund that can be used at any vet for one emergency vet bill.
📈 Traction and Fundraising
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Raised $13 million Series A with investors like Lux Capital, Good Friends, Eight Sleep, Ro, and more
👫 Founder(s)
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Marc Atiyeh, CEO: Previously CSO @ Clarity Money (Acquired by Goldman Sachs), Head of Growth @ Paribus (Acquired by Capital One), Account Executive @ Flurry (Acquired by Yahoo!), Electrical & Computer Engineering @ Harvard
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Andrew Malek, CTO: Previously Associate SWE @ Goldman Sachs, SWE @ Clarity Money (Acquired by Goldman Sachs), SWE @ Microsoft, Head of Mobile @ Paribus (Acquired by Capital One), CS @ Harvard
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Cody Simons, Head of Product: Current Co-founder @ Mixer; Previously Research Assistant @ Harvard, Statistics @ Harvard
🔮 Our Analysis
It’s no surprise health care is expensive, especially since we often overlook the costs associated with pets. They can quickly pile on through vet visits and emergencies. Marc Atiyeh, Pawp’s CEO, tells us that the company wants “to make sure pet parents know someone always has their back.” The combination of unlimited telehealth visits and a yearly $3,000 emergency fund for $19 a month shows the company’s emphasis on affordability. Given the overall rise of telehealth during the pandemic, Pawp is also timely—it’s simpler to check in virtually than to drive and wait at a vet’s office, especially when such a large percentage of pet issues can be resolved over the phone. As pet owners ourselves, we recognize the struggle and see the need for a service like Pawp. We’re excited to see where it goes in the coming years, and whether pet telehealth visits will be widely adopted as the norm.
📚 Further Reading
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Made with 💜 by the Unicorner Team 🦄
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🎁 Bonus Content!
So we're doing something a little unconventional this week...
Say hello to our resident furry friends at Unicorner HQ! Pictured are Zepure (Arek's husky/malamute puppy) and Griffin (Ethan's elderly Bichon Frise). Send us pictures of your pets to give us a serotonin boost 🐕
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