Total amount raised
$655.5 Million
Latest funding date
2/1/2024
Location
Warby Parker has successfully raised funding over 11 rounds, with the latest being a Post-IPO Equity round. The company is backed by 38 investors, including notable names like Google and JP Morgan Chase.
Keep reading to explore the intricacies of Warby Parker's fundraising journey and the investors backing this innovative eyewear brand.
What Is Warby Parker?
Warby Parker, headquartered in New York, New York, is a lifestyle brand known for offering designer eyewear. The company operates in the E-Commerce, Fashion, and Retail industries and employs between 1001 and 5000 people.
Founded with a socially conscious mission, Warby Parker provides a range of eyeglasses, sunglasses, and contact lenses. The company emphasizes customer convenience with features like virtual try-ons, free shipping, and free 30-day returns.
How Much Funding Has Warby Parker Raised?
- Series A
- Amount Raised: USD 1,500,000
- Date: July 2011
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and establish a market presence.
- Series A
- Amount Raised: USD 12,000,000
- Date: September 2011
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and scale the business.
- Series B
- Amount Raised: USD 41,500,000
- Date: September 2012
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance marketing efforts and grow the customer base.
- Series C
- Amount Raised: USD 60,000,000
- Date: December 2013
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support technological advancements and improve customer experience.
- Series D
- Amount Raised: USD 100,000,000
- Date: April 2015
- Lead Investors: T. Rowe Price
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand retail locations and increase market penetration.
- Series E
- Amount Raised: USD 75,000,000
- Date: March 2018
- Lead Investors: T. Rowe Price
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the product line and enhance operational capabilities.
- Series F
- Amount Raised: USD 125,000,000
- Date: April 2020
- Lead Investors: Durable Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand into new markets.
- Series G
- Amount Raised: USD 120,000,000
- Date: August 2020
- Lead Investors: D1 Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To bolster financial stability and support long-term strategic initiatives.
- Post-IPO Debt
- Amount Raised: USD 120,000,000
- Date: February 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support working capital and general corporate purposes.
- Post-IPO Equity
- Amount Raised: USD 75,000,000
- Date: May 2025
- Lead Investors: Google
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive innovation and expand product offerings.
Warby Parker has raised a total of USD 729,000,000. The current valuation is Not publicly disclosed.
Key Investors
- Google
- Details: Google is a global technology company specializing in internet-related services and products. It is a subsidiary of Alphabet Inc.
- Investment Focus Areas: Technology, healthcare, consumer products
- Notable Investments: Uber, Airbnb, SpaceX
- JP Morgan Chase
- Details: JP Morgan Chase is one of the largest banking institutions in the United States, offering a wide range of financial services. It operates in investment banking, financial services for consumers and businesses, and asset management.
- Investment Focus Areas: Financial services, technology, healthcare
- Notable Investments: WeWork, Lyft, Robinhood
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that focuses on public and private companies in the global internet, software, consumer, and financial technology industries. It was founded in 2001.
- Investment Focus Areas: Internet, software, consumer, financial technology
- Notable Investments: Facebook, LinkedIn, Spotify
- T. Rowe Price
- Details: T. Rowe Price is a global investment management firm that offers mutual funds, subadvisory services, and separate account management for individual and institutional investors.
- Investment Focus Areas: Mutual funds, retirement plans, institutional investments
- Notable Investments: Tesla, Amazon, Google
- Durable Capital Partners
- Details: Durable Capital Partners is an investment firm that focuses on long-term investments in public and private companies. It was founded by Henry Ellenbogen, a former T. Rowe Price portfolio manager.
- Investment Focus Areas: Public companies, private companies, long-term investments
- Notable Investments: Not publicly disclosed
What's Next for Warby Parker?
Warby Parker's recent $120 million credit facility opens up significant opportunities for growth. This financial move provides the company with the flexibility to enhance its working capital and support general corporate purposes. With an option to increase the borrowing capacity by an additional $55 million, the potential size of this opportunity is substantial.
Future fundraising opportunities are also on the horizon. The revolving nature of the credit facility allows Warby Parker to borrow, repay, and re-borrow funds until 2029, positioning the company to take advantage of strategic acquisition opportunities. However, challenges such as maintaining a maximum consolidated senior net leverage ratio and adhering to various covenants could pose hurdles along the way.
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