Small Door Secures $55 Million for National Expansion

Deal News | Aug 01, 2025 | Goodwin

Small Door Veterinary, an innovative provider of membership-based veterinary care with a focus on human healthcare standards, has successfully secured $55 million in funding to support its next phase of growth and national expansion. The fundraising round was led by a $35 million equity investment headed by Valspring Capital, with additional participation from existing investors such as Primary Venture Partners, C&S Family Capital, Lerer Hippeau, and Toba Capital. Additionally, the financing included a $20 million debt facility from Bridge Bank, part of Western Alliance Bank. Goodwin's Technology team advised on the transaction, which was led by a comprehensive legal team including David Concannon and several colleagues.

Sectors

  • Healthcare Services
  • Financial Services

Geography

  • United States – Small Door Veterinary is founded in New York City and operates across the Northeast and Mid-Atlantic, aiming to expand nationally.

Industry

  • Healthcare Services – Small Door Veterinary provides healthcare services specifically focused on veterinary care with standards inspired by human healthcare practices.
  • Financial Services – The article discusses the funding process involving equity financing and a debt facility setup.

Financials

  • $55 million – Total capital raised by Small Door Veterinary.
  • $35 million – Amount of equity financing led by Valspring Capital.
  • $20 million – Debt facility provided by Bridge Bank.

Participants

NameRoleTypeDescription
Small Door VeterinaryTarget companyCompanyA membership-based veterinary care provider known for combining exceptional primary care with stress-free environments.
Valspring CapitalLead investorCompanyA private equity firm leading the $35 million equity financing.
Primary Venture PartnersInvestorCompanyAn existing investor in Small Door Veterinary participating in the equity round.
C&S Family CapitalInvestorCompanyAn existing investor in Small Door Veterinary participating in the equity round.
Lerer HippeauInvestorCompanyAn existing investor in Small Door Veterinary participating in the equity round.
Toba CapitalInvestorCompanyAn existing investor in Small Door Veterinary participating in the equity round.
Bridge BankDebt providerCompanyProvided a $20 million debt facility as part of the financing.
GoodwinLegal advisorCompanyAdvised Small Door Veterinary on the fundraising transaction.
David Concannon, Joshua Eisenson, Janet Andolina, Kevin Grumberg, Roger Cohen, Taylor Harrison, Tori Stark, Scott Zilora, Allison Goldsher, Shamila Kara, Eliza Chute, Rebecca Kennedy, and Kerri FinnLegal teamPeopleThe team from Goodwin advising on the transaction.