Simple Contacts Raises $8 Million Series A Led By Goodwater Capital
Prior investors Justin Kan, Notation Capital and Autonomous Ventures also participated in the round
NEW YORK, N.Y., April 19, 2017-- Simple Contacts, the leading ocular telemedicine company, today announced that it has raised an $8 million Series A financing round led by Goodwater Capital, which specializes in early-stage consumer technology companies. Previous investors Justin Kan, Notation Capital and Autonomous Ventures also participated in the round.
The $8 million financing will help Simple Contacts grow its product and marketing teams, expand marketing efforts to new channels and bring the product to more platforms, including Web and Android.
“Our team has been thinking about how to make healthcare more convenient for a long time.” said Joel Wishkovsky, founder of Simple Contacts. “Our healthcare system is difficult to navigate, expensive and often hard to access for those without resources. People are looking for easier ways to access care, and our success shows that the average American is perfectly comfortable incorporating telemedicine visits into their healthcare regimens.”
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. By providing an innovative vision test and an easy contact lens ordering system, Simple Contacts has quickly emerged as a leading contact lens seller. In an industry where 84% of purchases still occur offline, Simple Contacts enables millions to save time, money and hassle.
"Simple Contacts represents the future of consumer health,” said Eric Kim, partner at Goodwater Capital. “Their product roadmap blew us away. By focusing on how to serve patients first, and cutting out inefficiency and waste, they’ve created a service that patients love. They’ve succeeded in creating a brand that is about convenience in a market where patients feel ignored.”
At a time when American healthcare costs continue to rise, Simple Contacts’ tech-enabled approach also allows them to provide services to consumers at a far more affordable cost than prevailing market rates for a contact lens consultation. With out-of-pocket costs of a visit to the optometrist reaching up to $250 in some markets, the flat $10 cost of Simple Contacts vision also offers a way for millions of Americans to realize meaningful savings when renewing their contact lens prescription.
The latest round brings the total investment in the company to $10 million.
About Simple Contacts
Simple Contacts is a telemedicine platform designed to allow patients to renew their contact lens prescriptions from home. At a cost of $10, Simple Contacts vision test is designed to save time and money. With comparably priced contact lenses, patients can renew their prescription and have contacts shipped to their door for a fraction of the price of heading into the doctor’s office.
To download the Simple Contacts app, visit http://go.simplecontacts.com/download
About Goodwater Capital
Goodwater Capital is a next generation venture capital firm. Founded by Chi-Hua Chien and Eric J. Kim, Goodwater’s mission is to empower exceptional entrepreneurs who are changing the world. For more information about Goodwater Capital, visit: http://www.goodwatercap.com
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