GlassesUSA.com has raised $45 million in funding from the Israeli private equity firm Tene Investment Fund.
Established in 2008, the online eyewear retailer is a subsidiary of Optimax Eyewear. It was founded by the company’s chief executive Daniel Rothman, chief operating officer Eldad Rothman and chief technology officer Roy Yamner.
With the latest round, the company has raised $95 million in funds to date. The new funding will be used to finance the company’s expansion plans, including a new U.S.-based fulfillment center, research and development as well as the expansion of customer service solutions.
GlassesUSA.com claims to have “the largest selection of styles on the market” as well as five house brands which represent more than half of its sales. It has fulfillment centers and labs worldwide and states that it can deliver prescription glasses anywhere in the world within only a few days.
GlassesUSA.com says that over the past few years it has witnessed a substantial growth in confidence among Americans to purchase prescription eyewear online. With the outbreak of the Covid-19 pandemic, the company has experienced “massive” growth from both returning and new customers. Thanks to data collection, it can profile its users in order to personalize product and marketing offerings.
Optimax also owns United Vision Plan (UVP), a B2B platform providing innovative online vision benefit plans offering “substantial” savings to both employers and participants.