Hubble Contacts Raises $10 M to Finance Canada Expansion
Wednesday, August 30 2017 | 00 h 00 min | Financial News, News
Hubble, America’s first direct-to-consumer contact lens brand, announced today the close of a $10MM Series A-III financing round, and the company’s first step toward international growth, with a launch in Canada. The Series A-III raise, which will aid Hubble’s international expansion plans, was led by existing investors, including FirstMark Capital, Greycroft Partners, Founders Fund, Wildcat Capital Management and Two River.
Since launching in November 2016, Hubble has grown at a rapid rate, acquiring tens of thousands of new subscribers, and more than $30MM in venture capital financing. The company has continued to partner with a large network of doctors across the United States, further developing strong business relationships within the medical community, while continuing to offer consumers a convenient and affordable option for their daily contact lenses.
Earlier this year, Hubble raised $16.5MM in a Series A investment round, which provided the company with the opportunity to purchase additional inventory to accommodate their growing base of customers. Because of this continued growth, Hubble was able to raise an additional $10MM in Series A-III financing, which is funding the company’s international expansion plans. Hubble’s launch into Canada is only the first step toward further global expansion, with plans to launch into Europe over the next year.
Ben Cogan, Co-Founder and Co-CEO of Hubble, says, “Our mission is to continue to provide affordable, quality daily contact lenses to more people in more places, and to bring our product to Canada is just the beginning.”
“The direct-to-consumer model has become an integral part of the retail industry and we’re seeing more and more brands out there trying to replicate it,” noted Jesse Horwitz, Co-Founder and Co-CEO of Hubble. “Our company has seen tremendous success with this model in the U.S., and we are looking forward to continuing this success on an international level.”
Hubble contacts are now available at ca.HubbleContacts.com, for $40 CAD a month.
Read the full press release here.