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Warby Parker hits important financial milestone

Eyewear retailer Warby Parker is on a roll.

The eight-year-old company announced it has raised $75 million in a Series E funding round led by existing investor T. Rowe Price. Warby Parker also said that it will be profitable this year for the first time in its history.

The new funding values Warby Parker at $1.75 billion, according to Recode. And it brings the company’s total funding to around $290 million.

Warby Parker plans to use the new funding to invest in technology, research and development.

"We're working to build one of the world's most impactful brands, and we've always taken a long-term view," stated co-founder and co-CEO Neil Blumenthal.

Last year, in a development that will help streamline its operations, Warby Parker opened its first, fully-owned optical lab. The brand also entered a new market, kids eyewear.

Founded online in 2010, Warby Parker opened its first store in 2013, and currently has 65 locations in the United States in Canada. It has a goal of nearly 100 U.S. stores by the end of 2018, reported CNBC.
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