How Much Did HUBBLE Raise? Funding & Key Investors

HUBBLE has successfully raised funding over 5 rounds, with the latest being a Series B round involving 8 investors. The company is backed by notable investors such as Gaingels, Bellco Capital, FirstMark, and Wildcat Capital Management.

Keep reading to explore the intricacies of HUBBLE's fundraising journey and the investors backing this innovative platform.

What Is HUBBLE?

HUBBLE is a private company based in New York, New York, specializing in subscription contact lens services and eyewear retail. The company operates in multiple industries, including Beauty, Consumer Goods, E-Commerce, Eyewear, and Health Care.

With an employee count ranging between 11-50, HUBBLE offers a range of eye care products, including daily and monthly contact lenses, eyeglasses, and sunglasses. The company emphasizes affordability and convenience, providing home delivery and hassle-free subscription services.

How Much Funding Has HUBBLE Raised?

1. Seed Round
   • Amount Raised: USD 3,500,000
   • Date: May 2016
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To launch the company and develop its initial product offerings.
2. Seed Round
   • Amount Raised: USD 3,700,000
   • Date: October 2016
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand product development and marketing efforts.
3. Series A Round
   • Amount Raised: USD 16,500,000
   • Date: March 2017
   • Lead Investors: FirstMark
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To roll out toric lenses for customers with astigmatism, marketing, and hiring.
4. Series A Round
   • Amount Raised: USD 10,000,000
   • Date: August 2017
   • Lead Investors: FirstMark
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further expand marketing efforts and product development.
5. Series B Round
   • Amount Raised: USD 45,000,000
   • Date: July 2018
   • Lead Investors: FirstMark, Wildcat Capital Management
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and enhance product offerings.

Total Amount Raised: USD 78,700,000. Current Valuation: Not publicly disclosed.

Key Investors

• FirstMark
  • Details: FirstMark is a venture capital firm that frequently invests in direct-to-consumer brands. They led HUBBLE's Series A and Series B funding rounds.
  • Investment Focus Areas: Direct-to-consumer brands, software, services for online retailers.
  • Notable Investments: Shopify, Zipments, Lot18.
• Wildcat Capital Management
  • Details: Wildcat Capital Management is an investment firm managing capital for high-net-worth individuals and families. They were a lead investor in HUBBLE's Series B funding round.
  • Investment Focus Areas: General investment across various sectors.
  • Notable Investments: Not publicly disclosed.
• Greycroft Partners
  • Details: Greycroft Partners is a venture capital firm that invests in internet and mobile companies. They participated in HUBBLE's Series A funding round.
  • Investment Focus Areas: Internet, mobile companies.
  • Notable Investments: Not publicly disclosed.
• Two River
  • Details: Two River is a healthcare investment firm. They participated in HUBBLE's Series A funding round.
  • Investment Focus Areas: Healthcare sector.
  • Notable Investments: Not publicly disclosed.
• Gaingels
  • Details: Gaingels is a network of investors that focuses on supporting and funding companies with diverse leadership. They are one of the notable investors in HUBBLE.
  • Investment Focus Areas: Diversity-focused investments, technology, consumer goods.
  • Notable Investments: Not publicly disclosed.

What's Next for HUBBLE?

HUBBLE is poised to capitalize on the growing trend of direct-to-consumer brands, with significant opportunities in expanding its product line to include toric lenses for customers with astigmatism. This move could attract a broader customer base, given the high demand for affordable, daily disposable contact lenses.

Future fundraising opportunities seem promising, especially with the backing of prominent investors like FirstMark Capital. As HUBBLE continues to grow, additional rounds of funding could support further product development and marketing efforts, ensuring sustained growth and market penetration.

However, challenges such as high initial costs for setting up manufacturing facilities and potential competition from established brands could pose hurdles. Ensuring consistent quality and managing the supply chain with their manufacturing partner will be crucial for HUBBLE's continued success.

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