Warby Parker Grabs New Investment From American Express & J. Crew CEO, Closing $41.5M Round
February 25, 2013
New York-based eyewear startup Warby Parker is off to a good start in 2013, having recently been fingered as a possible partner for Google Glass. Now the company is reported to have gained an additional investment from American Express and J. Crew chief executive Millard S. Drexler. The new investors went in alongside General Catalyst, Spark Capital, Tiger Global Management, Thrive Capital, Lerer Ventures and Menlo Ventures, in a round totaling $41.5 million in financing, which officially closed in January.
The SEC filing was first spotted this past September, which at the time showed that Warby Parker had sold $36.8 million of a potential $40 million round. That round had closed, but left room for the company to bring on select investors, NYT reports today. Drexler, who really wanted in on this round from what we hear, also previously served as CEO of Gap, Inc. Having him on board will help the brand as it becomes more of a household name and scales its operations. However, the move does not yet indicate any sort of partnership between Warby Parker and J. Crew, the report adds. The brand will remain one that sells direct to consumers via the web for now.
Warby Parker’s other new investor American Express, meanwhile, has previously been a collaborator, as the startup works with the company on its Sync program, in order to give Twitter users discounts on the eyewear.