Sightbox raises $2.4M to grow contact lens and eye exam membership program – GeekWire
Sightbox, a Portland, Ore.-based startup offering an annual membership for eye exams and contact lenses, has raised $2.4 million in new funding to grow the service.
The new round brings the company’s total funding to $4.2 million. Investors in the round include Rogue Venture Partners, Portland Seed Fund, Jumpstart Foundry, Vista River Healthcare, G Ventures and Irish Angels, along with individual angel investors from around the U.S.
Sightbox uses a membership model with the goal of making contact lenses more affordable. Members pay a monthly fee of $39 for an annual eye appointment and contact lens fitting, and a 12-month supply of contact lenses of their choice. The company also handles booking appointments and filling prescriptions for members.
One of the service’s attractions is the simple pricing system: the monthly membership fee is the same price regardless of what kind of contacts a member orders or where they get their eye exam. It also allows members to spread the cost of eye care over the year.
A company spokesperson said the service is filling a niche often left out of health insurance plans: most plans cover a co-pay on an eye appointment and a budget for eyewear, but contact lens fittings aren’t covered and buying contact lenses can easily take patients over their hardware budget.
Sightbox does not accept any payment from health insurers.
The spokesperson said the new funds will go towards customer acquisition and new staffing for finance and operations. The startup currently employs 20 and is planning to expand to 30 by the end of the year, he said.