New York-based GlassesUSA.com raises $45M funding to disrupt the $147 billion global eyewear industry
The global eyewear market, which is made up of spectacles, contact lenses, sunglasses, and other eyewear products, was estimated to be valued at $147.60 billion in 2020, according to data from research firm GrandViewResearch. One startup disrupting this space is a New York-based online eyewear retailer GlassesUSA.com.
Today, GlassesUSA.com, a subsidiary of Optimax Eyewear, announced it has closed $45 million in funding led by Tene Investment Fund. The startup said it will use the new funding proceeds to finance the future expansion plans of the company, including a new US-based, advanced fulfillment center, R&D, and expansion of customer service solutions. To date, GlassesUSA.com has raised $95 million in fundings, with Viola Growth as the leading shareholder.
Founded in 2008 by Daniel Rothman, Eldad Rothman, and Roy Yamner, GlassesUSA.com is a premier online retailer of prescription eyeglasses and sunglasses. The company has grown to become one of the most recognized brands in the online eyewear industry. GlassesUSA owes its success in large part to the level of service it provides its customers. In an industry where people purchase eyeglasses about once every two years, GlassesUSA has an unprecedented 30% returning customer rate.
It is also succeeding in its mission to disrupt the $120 billion global eyewear industry by cutting out the middleman and offering consumers prescription and non-prescription eyewear at affordable prices, through a hassle-free shopping experience.
GlassesUSA.com’s competitive edge is due to industry-leading technology and marketing capabilities. Based on unique models of data collection, the company can profile its users in order to personalize product and marketing offerings on the website. Throughout the years, the company’s sales and profitability have also been accelerated by a combination of data-driven performance marketing, coupled with technological and operational excellence.
“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. 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,” said GlassesUSA.com CEO and Co-Founder Daniel Rothman.
GlassesUSA.com’s parent company, Optimax, was founded by Daniel Rothman (CEO), Eldad Rothman (COO), and Roy Yamner (CTO). Alongside its primary DTC operation, GlassesUSA.com, Optimax also owns and operates United Vision Plan (UVP), a B2B platform that is disrupting the traditional vision benefit market by providing innovative online vision benefit plans with substantial savings to both employers and participants. As well as partnering with major healthcare and vision providers to enable online access to benefits for their participants.