A New Investor Leads Round To Support Product Extensions and
NEW YORK–(BUSINESS WIRE)–#ContactLenses–Hubble, America’s first direct-to-consumer contact lens brand, announced
today the close of a $16.5MM Series A investment round. The raise was
led by FirstMark Capital, with participation from existing investors
including Greycroft Partners, Wildcat Capital Management (the family
office of TPG Capital Founder, David Bonderman) and Two River.
After launching in late 2016, Hubble has grown at a rapid rate,
acquiring thousands of new customers each week and an extensive network
of hundreds of partner doctors, in less than 3 months. The Series A
round brings Hubble’s total financing to $23.7MM, allowing the company
to invest more in marketing and advertising initiatives, and to purchase
additional inventory to accommodate their growing customer base; proving
the success of the direct-to-consumer subscription model.
Hubble recently extended their lens powers to a range of -0.50 through
-12.00 to help even more contact lens wearers see clearly, but the one
segment of contact lens wearers who have been unable to take advantage
of Hubble’s affordable subscription service, are those with astigmatism.
Hubble’s Series A raise will allow the company to purchase a substantial
inventory of toric lenses to support customers with astigmatism and roll
out new product extensions, including eye drops.
Hubble is dedicated to making it affordable and convenient to purchase
high-quality contact lenses for a fair price. There are more than 40
million contact lens wearers in the Unites States, and most retailers
sell lenses at a 15-100x mark-up from manufacturing costs. By cutting
out the intermediaries, Hubble is able to sell its own brand of contacts
directly to consumers using a subscription model. In turn, Hubble’s
contact lenses generally cost less than half the price of competitors.
Founded in 2016, Hubble
is America’s first direct-to-consumer contact lens brand, dedicated to
making it affordable and convenient to purchase high-quality contact
lenses for a fair price. Through a subscription service, Hubble is able
to offer consumers affordable, high-quality, FDA-approved contact lenses
with minimal hassle and maximum convenience.
Hubble’s contact lenses are available at www.hubblecontacts.com
for $30/month for a monthly subscription. Every new customer gets their
first two weeks of lenses free (+$3 S/H), and can cancel anytime,
including during the free period.
David Shulman, 646-374-0842