L Catterton Makes Strategic Investment in Sploot Veterinary Care

GREENWICH, Conn., Jan. 16, 2024 /PRNewswire/ -- L Catterton, a leading global consumer-focused investment firm, today announced that it has made a strategic investment in Sploot Veterinary Care ("Sploot"), an innovative, technology-driven, and comprehensive veterinary care platform providing an elevated experience to pets, pet parents, and veterinary professionals.

Sploot is revolutionizing veterinary care with its focus on delivering a convenient, accessible, and pet-parent centric primary care and urgent care experience. Sploot fulfills 95 percent of pet care needs through an integrated and inviting clinic experience. Its breadth of services spans from routine checkups to dental treatments and surgeries, extending to urgent care and emergency – all under one roof. Sploot's forward-thinking approach ensures a personalized and effortless experience for every pet and their parent, reflecting the company's pledge to accessible, modern pet care.

Sploot currently operates seven clinics across Denver and Chicago, with an additional clinic expected to open this month. This investment will support Sploot's long-term growth and strategic objectives, enabling the company to accelerate the expansion of its differentiated approach and execute on its mission of improving the lives of pets, pet parents, and veterinary professionals.

"We are incredibly excited to work with L Catterton – a partner with leadership in consumer brand-building as well as deep expertise in our category – to help Sploot become the go-to provider of modern veterinary care across the country," said Gil Bolotin, Co-Founder and Co-CEO of Sploot. "We know firsthand the challenges of navigating today's fragmented veterinary care landscape. Yoav and I founded Sploot with the purpose of transcending the traditional boundaries of veterinary clinics and creating a more reliable and stress-free experience – one that prioritizes unparalleled accessibility and quality of care – in one progressive, digital-forward platform."

"While a commitment to innovation is core to Sploot's mission, what truly sets us apart is our world-class team of veterinary professionals that are committed to providing customers with a personalized and comprehensive care experience 365 days a year," said Yoav Mordowicz, Co-Founder and Co-CEO of Sploot. "Building and growing our unique culture – where our veterinarians get the same white glove treatment as our pets and parents – will continue to be an essential part of our success. We are thrilled to partner with L Catterton, a team that that not only brings unparalleled expertise in the veterinary space, but also shares these values as well as a commitment to our providers."

"With the number of pet owners continuing to grow nationwide, and more owners proactively prioritizing the health and wellness of their pets, Gil, Yoav, and the entire Sploot team's approach to pet care is redefining what today's veterinary care can – and should – look like," said Michael Farello, a Managing Partner of the Growth Fund at L Catterton. "We believe there are a number of exciting opportunities ahead to expand the company's footprint in new and existing markets, while continuing to enhance Sploot's digitally enhanced solutions. We look forward to bringing our deep expertise in the veterinary care space to this partnership to support the Sploot team's long-term vision and continue to blaze the trail of veterinary excellence."

L Catterton has significant experience investing in and building brands within the pet care space globally, including Alliance Animal Health, Butternut Box, Canidae, Drools, Harringtons, Instinct^®, JustFoodForDogs, Lily's Kitchen, Old Mother Hubbard^®, Partner Pet, Petlove, PetVet Care Centers, Pure & Natural, Rachael Ray^® Nutrish^®, and Withmal.

L Catterton will join existing investor Skydeck Capital.

About L Catterton

L Catterton is a market-leading consumer-focused investment firm, managing approximately $34 billion of equity capital across three multi-product platforms: private equity, credit, and real estate. Leveraging deep category insight, operational excellence, and a broad network of strategic relationships, L Catterton's team of more than 200 investment and operating professionals across 17 offices partners with management teams to drive differentiated value creation across its portfolio. Founded in 1989, the firm has made around 275 investments in some of the world's most iconic consumer brands. For more information about L Catterton, please visit lcatterton.com.

About Sploot Veterinary Care

Sploot Veterinary Care is a veterinary care company that aims to empower pet parents on their journey to providing the best veterinary care for their furry family members.  At the core of its mission is the creation of an unparalleled professional environment that enables veterinary professionals to thrive, ensuring exceptional service standards. Sploot provides a range of primary and urgent care services focused on providing a nurturing environment for pets and pet parents alike. The company is transforming the veterinary care experience through holistic investment in the pet parent experience, constant innovation in its operating model to provide the most convenient, easily accessed, and high quality care. Proudly founded in Denver, Sploot celebrates its roots in this thriving, growing city and is a proud sponsor of a number of local organizations.

Contact:

L Catterton
Julie Hamilton
[email protected]
+1 203 742 5185

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SOURCE L Catterton