Eyewear website gets $45M investment from private equity

Online eyewear retailer GlassesUSA.com is getting a big investment from a private equity fund. The New York-based e-retailer, which sells leading brands alongside its five private label brands of eyewear, has closed $45 million in funding from Tene Investment Fund. 

The company noted that its private label brands comprise more than 50% of its sales, and it commands a network of global fulfillment centers and an international production system that can manufacture thousands of prescription glasses every day. The past several years have seen substantial growth, and that the COVID-19 pandemic has helped fuel both new customers and returning customers. GlassesUSA.com also noted that one of its key strengths is its data collection models, which allow it to profile its users to personalize product and marketing offers as they navigate the website. 

"We strongly believe that people should not be overpaying for a health necessity such as prescription eyewear. We founded GlassesUSA.com to disrupt the industry and help everyone see better by offering high-quality glasses at affordable prices,” said Daniel Rothman, GlassesUSA.com CEO and co-founder. “During the COVID-19 pandemic we have been privileged to be able to continuously support our customers' needs, pushing for innovative ways to make shopping from home as comfortable and as hassle-free as possible for them.”

The company said it would use the investment to finance future expansion plans, including a new U.S.-based fulfillment center, research and development, and expanded customer service solutions.