Maveron and Vetinsurance

Canada-based Vetinsurance, a pet insurance company, was launched in 2000. After some conversations with potential investors about entering the US market in 2005, company founder Darryl Rawlings realized that he would be more successful in raising funds if Vetinsurance functioned as a full-service insurance company, instead of just a marketing firm. After lengthy negotiations, Rawlings was about to receive a term sheet from Maveron, a well-respected venture capital firm. In this case students are presented with the executive summary for Vetinsurance's business plan and are asked to consider the terms to be negotiated.