Simple Contacts, a telemedicine company for eye care, has secured $16 million in funding. The investors included Waypoint Capital Partners and Goodwater Capital.
NEW YORK (May 17th, 2018) – Simple Contacts, the leading telemedicine company for eye care, today announced $16 million in funding from Waypoint Capital Partners, with participation from returning investors Goodwater Capital, Steven Cohen, executives from Flatiron Health and a number of the nation’s top ophthalmologists. The new round brings Simple Contacts’ total funding to $26 million.
The announcement follows a stellar year for Simple Contacts, in which the company grew sales fivefold and provided contact lens prescriptions for tens of thousands of Americans. The company plans to use the new funding to invest in marketing and customer service, open new offices, and eventually expand the business to address additional healthcare categories.
Since launching in April 2016, Simple Contacts has quickly grown into a trusted and convenient option for the 40 million Americans who wear contact lenses. The company works with leading ophthalmologists to maintain a safe, reliable and convenient way for people with healthy eyes to renew their lens prescriptions at a fraction of the cost of a traditional doctor’s visit.
Appointments for routine contact lens renewals often present a needless inconvenience for consumers. On average, 80% of patients renew an existing prescription during their annual visit but pay an out-of-pocket fee of up to $250, in addition to taking time out of the workday to attend the appointment. Beyond saving time and money, Simple Contacts’ tech-enabled approach screens patients for signs of infection and medical conditions. Every Simple Contacts exam costs $20 and is reviewed by a licensed ophthalmologist.
“Simple Contacts is uniquely positioned to revolutionize digital health,” said Eric Kim, partner at Goodwater Capital. “The patient service model they’ve developed is quickly becoming the new standard for healthcare and will only increase in demand as informed consumers look for safe, innovative solutions to routine healthcare issues.”
“We are thrilled to look back and see how much we’ve grown in the last year, but we still have a ton of work to do,” said Joel Wishkovsky, CEO and Cofounder of Simple Contacts. “With this investment, we look forward to increasing access to safe and affordable eye care for millions more Americans.”
About Simple Contacts
Simple Contacts is a telemedicine platform designed to empower patients to renew their contact lens prescriptions from home. At a cost of $20, Simple Contacts vision test saves time and money. With competitively priced contact lenses, patients can renew their prescription and order contacts shipped to their door for a fraction of the price of heading to the doctor’s office. Visit https://www.simplecontacts.com to take the test or download the app.