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Lensabl Secures New Funding to Support Growth and Plans to Offer Online Eye Exams

By Staff
Wednesday, May 17, 2017 12:26 AM

LOS ANGELES—The start-up firm Lensabl, an online retailer of lenses, announced Tuesday that it has secured new funding. The company declined to disclose the amount or terms of the financing deal, which was led by Amplify.LA and Luma Launch, along with angel investor JJ List, according to the announcement.

In addition, Lensabl said it has “near-term plans to offer an online eye exam” that will provide “consumers a one-stop online destination for all optical needs.” The exams will be launched as Lensabl integrates the online eye exam feature “through a partnership with Opternative,” a spokeswoman told VMail. Opternative, based in Chicago, developed the first online refractive eye exam, which is now available in 39 states.

As VMail reported, executives of the company said in December that they had raised about $300,000 in seed money from investors, and that sales were beginning to increase as Lensabl gained recognition via social media and word-of-mouth marketing.

Lensabl offers clear, tinted and photochromic prescription lenses for eyeglasses and sunglasses, but it does not sell frames.

In late 2016, Lensabl launched its online prescription lens service, which the company said makes “it simple and affordable for consumers to get new lenses in frames they already own.”

The announcement added, “Essentially, consumers bypass the markups and wait times often associated with high-priced opticians and retailers.” In its statement, Lensabl said it is “experiencing 40 percent month-over-month growth” since its launch. In addition to its core offering, the site has recently started offering non-prescription sunglass lenses as well as blue-light blocking computer lenses.

The pricing for replacement lenses start at $77 (shipping included), according to the company, and anti-reflective, scratch-resistant and UV coatings are included on all lenses free of charge.

The process works like this: Consumers provide Lensabl with a frame and a current prescription. The company sends the frame to a nearby prescription lab, and the lab processes the lenses, mounts them in the frame and sends the completed eyeglasses back to Lensabl. The finished glasses are returned to the customer in a specially designed box containing a case, cleaning cloth, cleaning spray and product literature. The turnaround time is two to four days.

Amplify is a hands-on startup accelerator and entrepreneurial campus in Venice, Calif., and Luma Launch is a multi-million dollar early-stage fund with a Launch Program aimed at surfacing the most notable startups and entrepreneurial minds.
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