Warby Parker Expanding Store Portfolio

Online eyewear retailer Warby Parker (New York) has completed a round of financing that has put $100 million in its pockets — most of which will be spent on expanding its bricks-and-mortar presence. According to TechCrunch, the company will add eight new locations by the end of 2015, bringing its total to 20 in the U.S.

A portion of the funding, most of which came from global investment firm T. Rowe Price, will also be spent developing technology that will allow customers to conduct their own eye exams via a smartphone app.

Warby Parker launched as an online business that allowed customers to order several “try on” frames, which they could then return before ordering their chosen glasses. “This round of funding will allow us to continue to scale the business while focusing on product and technology innovation,” co-founder and co-ceo Dave Gilboa told TechCrunch.