-48%

est. 2Y upside i

HealthcareSeries D+

Modern Animal is reimagining the veterinary experience—for pets, their humans, and the medical teams who care for them. With thoughtfully designed clinics, a membership-based model, and modern software, we’re creating a new standard of care.

Rank

#3806

Sector

Veterinary Health Tech

Est. Liquidity

~4Y

Data Quality

Data: Medium

85% growth and $100M revenue impressive for clinic business, but equity math unfavorable. $229M preferences (~38%) mean flat exit returns nothing to common.

Last updated: March 21, 2026

Bull (20%)+90%

Expands to 150+ clinics, $300M revenue, acquisition at $1.5B.

Base (35%)+20%

60-80 clinics, $180M revenue, strategic acquisition at $700-750M.

Bear (45%)-45%

Mars undercuts on pricing; high capex burns cash; down round at $300-350M.

Est. time to liquidity~4.0 years

Preference Stack Risk

severe

Funding Intensity

38%

$229M on ~$600M estimated (38%).

Dilution Risk

high

High capex needs likely one more large round.

Secondary Liquidity

limited

On Forge/EquityZen but no tender program.

Other — 97 roles

View all 97 open roles at Modern Animal →

Last updated: March 10, 2026

Questions to Ask at the Interview

Strategic questions based on Modern Animal's data — designed to show you've done your homework.

  • 1

    “Unit economics per clinic?”

  • 2

    “Differentiation vs Mars AI investments?”

  • 3

    “Path to profitability and dilution risk?”

Community

Valuation Sentiment

Our model estimates -48% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.