BLOOMINGTON, Ill.—Keplr Vision announced earlier this week that it has successfully closed $80 million in additional funding from existing investors including Imperial Capital and Golub. Details of the transaction were not disclosed. “We are extremely excited to announce this increased level of confidence and commitment from our investors,” said Tim Mayhew, CEO. “Despite an extremely challenging time for capital markets, they recognized Keplr Vision’s amazing potential as a partner with many of the largest, most prestigious practices in the United States.

"With this stronger financial position we will be able to accelerate our investments into new doctor equipment, real estate, and our IT infrastructure, furthering our mission to be the best place to work as an optometrist at any point in their career—from new graduate, to practicing at the full scope of their license, to seeking a transition of their practice.”

Keplr Vision also reorganized its field operations team, with David Cockrell, OD, being named as the new division president – East, Jon Christiansen, OD being named as the new division president – West, and Tim Westra being named as the new division president – Comprehensive. 

“This new structure will center Keplr Vision’s focus on maintaining and enhancing each of our partner practice’s culture, community involvement, and scope of services,” said  Mayhew. “Keplr Vision’s core beliefs are that 'Eyes Matter, Not all Eye Care is Created Equal,' and that independent optometry is the highest form of care. Our new division presidents, in conjunction with new regional OD leaders and a new practice development group, will support lead optometrists at each practice in creating even better experiences for their patients.”   

Keplr Vision also said that it had expanded its board of directors. The new appointments include: Mark Weikel, former president and CEO of Luxottica Retail North America, now on the boards of several companies, including Tractor Supply Company and others;  Brent Kugman, a veteran of numerous C-level positions across a range of companies and industries including Eddie Bauer Holdings, and Jim McGrann, former CEO of Professional Eye Care Associates of American (PECAA) and VSP Global and current president and COO of Percept Corporation.  

Mayhew noted, "Keplr Vision is excited that Mark, Brent and Jim bring extensive experience in the optical and retail industries and that their depth of expertise will improve Keplr Vision’s ability to deliver on its strategic growth plans."

Keplr Vision currently has 286 practices in the group, the company told VMAIL.