Warby Parker raises 245 million dollars

Optical company Warby Parker is truly in the money. The company, which has a very heavy e-commerce footprint, recently raised 245 million dollars in funding. Warby Parker's total valuation is now estimated at 3 billion dollars.

The recent round of funding comes from a Series F Round, a 125 million dollars led by Durable Capital Partners in Q2 of this year, and a Series G Round, 120 million dollars led by D1 in Capital in Q3 of this year. The latest round brings Warby Parker's total fundraising to 535.5 million dollars.

Warby Parker was founded ten years ago as a prescription eyeglass company online. The company follows a direct-to-consumer business model and limits their footprint of physical stores. By cutting out the middle men and saving on overhead for brick-and-mortar, the company is able to sell consumers eyeglasses at the price of 100 dollars per frame.

Warby Parker plans to use the recent round of capital to expand their business operation and increase their customer reach. Although many retailers took a grave hit from coronavirus, Warby Parker's already e-commerce heavy model helped them weather the storm.

photo: via warbyparker.com