Technology Crossover Ventures has invested 45 million euros ($49.8 million) in Brillen.de. Wildau, Germany-based Brillen.de provides prescription eyewear in that country. SuperVista AG is the parent of Brilen.de.
July 7, 2016, London, UK and Wildau, Germany: SuperVista AG, the parent company of Brillen.de, a leading multi-channel provider of prescription eyewear in Germany, announced today that Technology Crossover Ventures (TCV) has invested €45 million in the company. TCV provides growth equity for both private and public technology companies in the US, Europe and internationally. Brillen.de intends to use the funding to expand its executive team and enter new markets beyond Germany, Austria, Spain (Gafas.es) and the UK (Specsfactory.co.uk), where it currently operates.
SuperVista AG sells high-quality prescription eyewear online to consumers at very attractive prices. The company also leverages a large distribution network of more than 700 affiliated traditional opticians.
Founded in 2012, Brillen.de has grown quickly by enabling independent opticians to capture market share and expand their customer base through efficient marketing, high-quality products, competitive pricing and excellent customer service. According to recent studies by Credit Suisse, the size of the European eyewear market is expected to reach €30 billion by 2017.
TCV’s investment in Brillen.de is the first institutional backing for the family-owned company and is among the largest venture capital rounds in Germany in 2016.
Brillen.de was founded by Matthias Kamppeter, his wife Christine Kamppeter, and Daniel Thung. Before founding the company, CEO Kamppeter and his wife managed approximately 20 optician stores in Germany. Kamppeter has extensive sector knowledge and comes from a family of ophthalmologists that holds a number of industry patents. His father, a highly-regarded ophthalmologist, is an advisor and investor in Brillen.de. Co-Founder Thung, who is also a member of the company’s supervisory board, brings both capital markets and IPO experience in the tech sector.
“From the moment we met with TCV we knew they were the right investors to help us take Brillen.de to the next level and expand our service globally,” said CEO Kamppeter. “It’s clear an investment from TCV goes far beyond an influx of capital. They are committed to helping us strengthen our financial structure, improve our sales and marketing processes and build out our technology team.”
“We are delighted to work with a renowned investor like TCV and welcome their support as we continue to grow the company,” said Thung. “TCV’s focus on management teams and operational excellence combined with their international experience and strong culture are a great fit for us.”
Concurrent with the funding, John Doran, Principal at TCV, as well as Simon Breakwell, Venture Partner at TCV, joined Brillen.de’s supervisory board.
“At TCV, we invest in technology-driven businesses with sustainable business models that are focused on disrupting large industries and Brillen.de very much fits that mold,” said Doran. Brillen.de has a unique, vertically integrated omni-channel model, multiple opportunities for growth, and an excellent management team with deep domain expertise. We are delighted to partner with Matthias and the SuperVista AG team.”
Since inception, TCV has invested nearly $9 Billion in over 200 technology leaders. Over the past five years, TCV has invested more than $600 million into leading technology companies headquartered in Europe.
Digital Capital Advisors (DCA) Europe provided support to TCV in this VC financing.
Brillen.de is one of Deutsche Börse Venture Network’s founding members. “We are pleased that Deutsche Börse Venture Network has contributed to this important financing round. The growth companies on our platform profit from a leading network of more than 160 national and international investors that consist of venture capital, private equity, public investors and high-net-worth individuals”, said Eric Leupold, who manages the Deutsche Börse Venture Network.