National

Pro Rata

Axios Pro Rata

Warby Parker, a New York-based eyeglasses designer and retailer, raised $245 million in new funding at a $3 billion valuation, Axios has learned from a source familiar with the company's finances.

Between the lines: Warby had been widely viewed as a 2020 IPO candidate, but seems to have opted to remain private longer due to both the pandemic and some struggles for other direct-to-consumer personal product brands.

Investors in the round included  D1 Capital Partners, Durable Capital Partners, T. Rowe Price.

The company previously raised a total of $290 million, including a $75 million infusion in early 2018 at a $1.75 billion valuation.

Scoop: Warby Parker now valued at $3 billion

It raised $245 million in a new funding round.

Business

Venture capital

Retail

Warby Parker, a New York-based eyeglasses designer and retailer, raised $245 million in new funding at a $3 billion valuation, Axios has learned from a source familiar with the company&#x27;s finances.Between the lines: Warby had been widely viewed as a 2020 IPO candidate, but seems to have opted to remain private longer due to both the pandemic and some struggles for other direct-to-consumer personal product brands.

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

Scoop: Warby Parker now valued at $3 billion

Go deeper