The pandemic has increased the adoption of telehealth services and this is no different for pets. Hello Ralphie is a marketplace that connects pet owners with vetted professionals that provide
The pandemic has increased the adoption of telehealth services and this is no different for pets. Hello Ralphie is a marketplace that connects pet owners with vetted professionals that provide veterinary telehealth services. Founded by a former developer at Rent the Runway, who enrolled at Wharton to build the platform, Hello Ralphie offers immediate appointments with veterinary technicians to diagnose appropriate treatment options and address any emergencies. The company has experienced a whopping 800% increase in users since March and its service is available nationwide. AlleyWatch caught up with Founder and CEO Felicity Johnson to learn more about the inspiration for Hello Ralphie, the company’s impressive traction, and recent funding round from HearstLab and WPMC Fund.
veterinary telehealth services. Founded by a former developer at Rent the Runway, who enrolled at Wharton to build the platform, Hello Ralphie offers immediate appointments with veterinary technicians to diagnose appropriate treatment options and address any emergencies. The company has experienced a whopping 800% increase in users since March and its service is available nationwide.
AlleyWatch caught up with Founder and CEO Felicity Johnson to learn more about the inspiration for Hello Ralphie, the company’s impressive traction, and recent funding round.
Who were your investors and how much did you raise?
Our primary investors were HearstLab and WPMC Fund. We also received initial venture investment from Contour Ventures and Switch VC as well as some angel investment. We raised a total Seed round of $1.135M
Tell us about the product or service that Hello Ralphie offers.
Hello Ralphie is a platform that connects pet parents with licensed veterinarians for video and chat appointments as well as an immediate session phone call and chat with licensed veterinary technicians. We offer both telemedicine and telehealth/teletriage appointments and have a prescription partnership to fulfill prescription and over the counter needs. We offer these appointments through our iOS app, Hello Ralphie, and via our website.
What inspired the start of Hello Ralphie?
While I was working as a programmer for Rent the Runway, my cat Tiffany was diagnosed with cancer. I found it nearly impossible to schedule veterinary appointments around my busy schedule and determined that I wanted to build a solution that would address the antiquated way that veterinary care is offered in the US. With that vision, I went to Wharton to pursue developing the platform and ended up winning the Penn Wharton Entrepreneurship Startup Challenge in May 2020.
How is Hello Ralphie different?
Unlike other veterinary telehealth platforms, Hello Ralphie acts as a marketplace connecting pet parents with veterinarians that fit their needs. Through offering prescription appointments and having a ready supply of dedicated veterinarians, we are not simply connecting current vet practices with their clients, we are opening up a new realm of convenient veterinary care that benefits both pet parents and veterinarians and enables pets to thrive all from the convenience of their home.
What market does Hello Ralphie target and how big is it?
Hello Ralphie is nationwide, targeting customers in states where regulations are favorable for establishing a veterinary client-patient relationship via remote means. Since COVID, many states have adopted telemedicine regulations that enable telemedicine appointments. While the overall veterinary services market is valued at $30B, we have determined that the veterinary telemedicine market is valued at $4B.
What’s your business model?
We charge a fee for our chat and video telehealth and telemedicine appointments and receive a percentage of that fee for service. The remainder is paid to the veterinarians utilizing the service.
How has COVID-19 impacted the business?
COVID-19 has accelerated the adoption of telehealth and telemedicine for humans, which has naturally migrated into the veterinary space. Since March, we have seen over 800% growth in users as pet parents are not just seeking convenience, but a socially distant manner to receive veterinary care.
What was the funding process like?
The funding process was slow at the start as Hello Ralphie (formerly My Virtual Vet) was fortunate to receive non-dilutive capital from winning the Penn Wharton Entrepreneurship Startup Challenge, providing a small runway to get the concept to market. Once we began actively seeking venture capital, it was difficult to initially find investors interested in the veterinary services space as a B2C business instead of a SaaS platform, but once we demonstrated traction and product-market fit, the conversation became more streamlined.
Once we began actively seeking venture capital, it was difficult to initially find investors interested in the veterinary services space as a B2C business instead of a SaaS platform, but once we demonstrated traction and product-market fit, the conversation became more streamlined.
What are the biggest challenges that you faced while raising capital?
Apprehension with how big the space is and how ready people are to adopt telemedicine with their pets, the size of the team, backgrounds, competition, etc. the list goes on. At the end of the day, we were able to counterbalance many of the questions with our demonstrated success and competitive advantage.
What factors about your business led your investors to write the check?
Our investors ultimately believed in the team and appreciated our strategic vision of where the space has the capacity to go. While we are taking a risk betting on regulatory changes, we are positioning ourselves to be at the forefront when that regulation inevitably changes to favor the health of pets.
What are the milestones you plan to achieve in the next six months?
In the next six months, we plan to secure partnerships with brands that are looking to include veterinary telemedicine in their suite of services.
What advice can you offer companies in New York that do not have a fresh injection of capital in the bank?
Really outline the aspects of your business that make you different or innovative. The more you can highlight how you are finding a new foothold in the market, the more investors will listen to the real points that make your team valuable.
Where do you see the company going now over the near term?
We plan on executing our next 12-18 month roadmap and pursuing a series A in 2022 to scale personnel and operations.
What’s your favorite outdoor dining restaurant in NYC
Fonda – great food and down to earth atmosphere.
