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New York-based online eyeglasses company Warby Parker has scored $60 million in a Series C funding round from its existing investors to beef up its customer support team
Online eyeglasses firm Warby Parker has just closed a $60-million Series C funding round from its existing investors. Fortune first reported the news, wrote TechCrunch.
The recent round was led by Tiger Global Management. Thrive Capital, General Catalyst Partners, First Round Capital, and Spark Capital also participated in the said round. With the new capital, Warby Parker plans to beef up its customer support team, the report stated.
The New York startup began as a way to get cheaper glasses. Instead of selling popular brands, Warby went directly to the manufacturers in China and struck a deal with them. By eliminating the middleman and marketing exclusively on its website, the company grew competitive while maintaining healthy margins. The firm recently opened a bricks-and-mortar outlet in New York. However, the website is still its main retail store, the report detailed.
Warby Parker raised $41.5 million at the beginning of the year. The company now has enough dough for small acquisitions. But whether an IPO is in the works is yet to be seen, TechCrunch reported.