Blog: HCEDA Congratulates MCE Graduate, VitusVet on Attracting Strategic Investment from Nationwide

Tuesday, August 6, 2019

HCEDA’s Maryland Center for Entrepreneurship (MCE) graduate company, VitusVet, has recently attracted strategic investment from its ongoing relationship with Nationwide Mutual Insurance Company. VitusVet, a software development company, grew as a resident of the MCE, utilizing the resource network and mentorship offerings. The new strategic investment indicates both a strengthened partnership between Nationwide and VitusVet and a continued effort to build upon the company’s unique capabilities in connecting pet owners with pet healthcare providers.

Lawrence Twele, CEO of HCEDA notes that “VitusVet has been a textbook study in successful incubation and in taking advantage of the resources and startup culture at the MCE.” HCEDA’s MCE provides a robust, interactive community of innovators, entrepreneurs, investors and advisors whose collaboration successfully ignites innovation to launch high-growth companies in Howard County. HCEDA understands that innovators face many choices when locating the best place to start and grow their businesses. VitusVet’s choice to start in Howard County provides further evidence of why Howard County continues to rank among the top 25 on the Innovation Index for U.S. Counties (U.S. Economic Development Administration).

VitusVet’s user-friendly technology initially attracted Nationwide’s interest in 2016 as an opportunity to streamline the pet insurance claim process. Since then, Nationwide pet insurance members have filed over 635,000 claims through the VitusVet app, all while the start-up has continued to build upon the software’s capabilities, including an online health portal which has streamlined processes on behalf of pet owners and veterinary practices. Judy Harris, MCE’s Entrepreneur in Residence notes, “It has been a privilege to work with such talented team from VitusVet as their mentor and serve on the advisory board. To see a company progress from concept to the national recognition and investment from the largest pet insurance supplier is pretty incredible. VitusVet’s revenue growth and brand recognition continues to validate the need they have filled in the marketplace.”

Mark Olcott, CEO and Co-Founder of VitusVet noted that “HCEDA’s MCE is a great model for what counties should be doing to support the business community.”

The HCEDA is proud to witness innovators including VitusVet succeed in Howard County and beyond. Congratulations to the VitusVet team on their recent success and continued partnership with Nationwide. We look forward to celebrating future milestones with you.

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