How Much Did HUBBLE Raise? Funding & Key Investors

HUBBLE has successfully raised funds through multiple rounds, with the latest being a Series B round on July 2, 2018. The company is backed by notable investors, including Gaingels and Bellco Capital.

HUBBLE offers a subscription service for contact lenses, emphasizing ease of use with home delivery and hassle-free policies. Keep reading to explore the intricacies of HUBBLE's fundraising journey and the investors backing this innovative platform.

What Is HUBBLE?

HUBBLE, founded in May 2016 by Benjamin Cogan and Jesse Horwitz, is a subscription contact lens service and eyewear retailer based in New York, New York. The company operates in the beauty, consumer goods, e-commerce, eyewear, and health care industries.

With a team of 11-50 employees, HUBBLE aims to simplify the process of buying contact lenses and glasses. The company offers a range of products, including contact lenses, eyeglasses, and sunglasses, focusing on accessibility and affordability.

How Much Funding Has HUBBLE Raised?

1. Seed Round
   • Amount Raised: $3.5M
   • Date: May 2016
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To launch the company and develop the initial product offering.
2. Seed Round
   • Amount Raised: $3.7M
   • Date: October 2016
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand the product line and scale operations.
3. Series A
   • Amount Raised: $16.5M
   • Date: March 2017
   • Lead Investors: FirstMark
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To roll out toric lenses, invest in marketing and hiring, and expand the product line.
4. Series A
   • Amount Raised: $10M
   • Date: August 2017
   • Lead Investors: FirstMark
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further scale the business and enhance marketing efforts.
5. Series B
   • Amount Raised: $45M
   • Date: July 2018
   • Lead Investors: FirstMark, Wildcat Capital Management
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand market reach and develop new product lines.

Total Amount Raised: $78.7M. Current Valuation: Not publicly disclosed.

Key Investors

• FirstMark Capital
  • Details: FirstMark Capital is a venture capital firm based in New York City. They invest in early-stage technology companies.
  • Investment Focus Areas: Direct-to-consumer brands, software, services for online retailers.
  • Notable Investments: Shopify, Zipments, TommyJohn.
• Wildcat Capital Management
  • Details: Wildcat Capital Management is a private investment firm managing the assets of David Bonderman, a founding partner of TPG Capital. They focus on a variety of investment opportunities.
  • Investment Focus Areas: Technology, healthcare, consumer products.
  • Notable Investments: Not publicly disclosed.
• Greycroft Partners
  • Details: Greycroft Partners is a venture capital firm that invests in internet and mobile companies. They have a diverse portfolio.
  • Investment Focus Areas: Digital media, e-commerce, enterprise software.
  • Notable Investments: Venmo, Braintree, Maker Studios.
• Two River
  • Details: Two River is a healthcare investment firm. They focus on building and investing in healthcare companies.
  • Investment Focus Areas: Healthcare, life sciences.
  • Notable Investments: Not publicly disclosed.

What's Next for HUBBLE?

HUBBLE is poised to capitalize on the growing demand for affordable, daily disposable contact lenses. With plans to expand its product line to include toric lenses for astigmatism, the company is set to tap into a broader market segment. The substantial contact lens market offers significant potential for long-term customer retention, especially given HUBBLE's competitive pricing and subscription model.

Future fundraising opportunities appear promising as HUBBLE continues to grow. Additional rounds of funding could support further product line expansions, enhanced manufacturing capabilities, and more robust marketing efforts. The company's exclusive partnership with St. Shine Optical ensures a reliable supply chain, which is crucial for scaling operations.

However, HUBBLE may face challenges such as navigating the complexities of the contact lens supply chain and maintaining quality while scaling. Competition from established brands and new entrants could also pose hurdles. Despite these challenges, HUBBLE's innovative approach and strategic partnerships position it well for continued growth and potential future acquisitions.

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