Business

Warby Parker gets $60M to put its hipsterific glasses on more faces

Image Credit: Flickr/ Sir.Christopher Of Baltimore

Warby Parker, the hip online prescription glasses retailer, is getting some more cash.

The company confirmed this morning that it  has raised $60 million in a round led by Tiger Global Management, as Fortune first reported.

The round, which joins the $55 million Warby Parker raised previously, comes just after the company has expanded its physical retail foot print to four locations. That’s a clear sign it’s pretty intent on being more than just an Internet company.

And the opportunities here are big. While Warby Parker doesn’t disclose exact sales numbers, it has a good chance of taking a good chunk of the $65 billion prescription glasses market, which is dominated by high prices and sluggish brick-and-mortar businesses. Warby Parker, in contrast, is high-tech, cheap, and most importantly, almost sickeningly cool.

The company says it plans to use its funding to increase its retail staffing (which theoretically means more locations) as well as make more investments in its customer service and tech teams.

So the Warby Parker of the future will be as much an offline company as it is an online one.

In addition to Tiger Global, the round was joined by General Catalyst Partners, Spark Capital, First Round, and Thrive Capital. The company has raised $115  million to date.


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