Opternative Raises $6M Series A, Funding Expansion Of Online Eye Exams In The US
2/18/2016 – Chicago – Opternative, Inc. today announced that it has closed a $6M Series A financing round led by Jump Capital, funding future expansion of its online refractive eye exam service in the U.S. Also participating in this round are Tribeca Venture Partners, Pritzker Group Venture Capital, Chicago Ventures, Craig Duchossois, Corazon Capital (Sam Yagan), NextGen Venture Partners and others. The total funding to date is $9.5M.
Launched in July of 2015, Opternative already has 40,000 patient signups and is available in 33 states; the company expects that it will offer prescription services in 46 states within the next year.
“Opternative’s telemedicine application has cleared a bottleneck for a large and growing market dynamic in online eye care,” said Garrett Vygantas, M.D., Partner at Jump Capital. “We are eager to continue to work with Opternative to commercialize this technology and develop additional products that support the vision of the company.”
“Patients love getting their prescription for glasses and contacts online through Opternative. Our satisfaction rating is over 99%, and people are enthusiastic about the affordability and convenience of our online exams,” says Aaron Dallek, CEO of Opternative. “We are investing in R&D and partner integration with the goal of increasing accessibility to patients in 46 states and patients over the age of 40.”
“I am excited about our continued investment in Opternative to support their vision of providing access to affordable, accurate and convenient eye exams,” said Brian Hirsch, Cofounder & Managing Partner of Tribeca Venture Partners. “Opternative has developed a breakthrough technology that has the potential to completely revolutionize the eye care industry.”
Opternative Inc. offers the world’s first online refractive eye exam that delivers a physician issued prescription for glasses or contact lenses. By using a computer and smartphone, patients can take a 25 minute exam from the comfort of home and receive a physician issued prescription within 24 hours to use at any online or neighborhood optical retailer. Opternative exams cost $40 for a prescription for glasses or contacts and $60 for both. Opternative is clinically proven to be as accurate as a traditional refractive exam performed by an optometrist or ophthalmologist. Learn more about Opternative’s clinical trial here. The service is currently available in 33 states covering 80 percent of the U.S. 18-40 year old population, with more expected soon. Opternative’s services are not a replacement for an eye health exam.
For more information or to sign up for an online eye exam, visit Opternative.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities.