Exclusive: Warby Parker Seeks To Raise $75 Million

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Exclusive: Warby Parker Seeks To Raise $75 Million

March 8, 2018

Warby Parker is looking to raise $75 million for its Series E round of financing, Cheddar has learned.The eyewear company disclosed its plans to raise money in a filing with the state of Delaware on March 7 that was signed by its president Neil Blumenthal and provided to Cheddar by Lagniappe Labs.A spokesperson for Warby Parker didn’t respond to a request for comment.

Warby Parker last raised $100 million in 2015 for its Series D at a $1.2 billion valuation. The company is seeking a higher share price for its Series E, which indicates that its valuation will likely be higher after it completes the financing round.

Since last raising money, Warby Parker has significantly expanded its retail footprint and plans to have nearly 100 stories open in the US by the end of 2018. Last year it opened a $16 million optical lab dedicated to building its own glasses in-house. And in January, it started selling kids glasses for the first time.

Warby Parker has raised $216 million in total since its founding in 2010 from investors like General Catalyst, T. Rowe Price, and Lerer Hippeau Ventures.

Reporting by Alex Heath

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