A venture capital firm rarely has the opportunity to support a startup once more after it has been acquired, especially if it is still a privately held business.
Therefore, when Builders VC received the word that the creators of the cattle management software Performance Livestock Analytics (PLA) were looking to spin out from Zoetis, which purchased them in 2020, in order to keep scaling, Builders general partner Mark Blackwell said he was “jumping for joy.”
Tuesday saw the announcement by PLA that it would separate from Zoetis with funding of $7.5 million from Builders VC and Alaris Capital. Builders gave the business their initial support in 2019 during its seed stage.
Although the company’s initial sale to Zoetis was a good result for the founders, Blackwell said he’s happy to see the startup have the chance to realize what he believes to be its full potential: becoming a software platform for cattle farmers.