Warby Parker, the US-based online eyewear retailer that counts payment services firm American Express as an investor, has closed $245m in series F and G funding, TechCrunch reported yesterday.
Durable Capital Partners led a $125m series F round for the company in the second quarter of 2020 that preceded a $120m series G led by fellow investment firm D1 Capital Partners in Q3.
Investment management firms T. Rowe Price and Baillie Gifford also invested in Warby Parker through the 2020 rounds, the second of which valued it at $3bn post-money, sources familiar with its finances told both TechCrunch and Fortune.
Warby Parker operates an online platform that sells prescription glasses, sunglasses and contact lenses. It offers the option for users to book eye exams at a range of eye doctors and allows customers to try on a range of glasses at home to determine which they want to buy.
The company has now raised about $535m since it was founded in 2010, including $75m in an early 2018 series E round led by T. Rowe Price and backed by Baillie Gifford that valued it at $1.75bn.
T. Rowe Price also led Warby Parker’s $100m series D round in 2015, investing alongside Wellington Management, Tiger Global Management and General Catalyst at a $1.2bn valuation.
General Catalyst and Tiger Global had previously joined American Express Ventures, the corporate venturing arm of American Express, in the company’s $41.5m series C round in 2013 with Spark Capital, Thrive Capital, Menlo Ventures and Millard Drexler.
Tiger Global, Thrive Capital and Menlo Ventures participated in the 2013 round as existing investors. Warby Parker’s early backers also include Lerer Hippeau, First Round Capital, Bullish and SV Angel.
Image courtesy of Warby Parker.
