Simple Contacts, a New York City-based telemedicine startup for eye care has raised $16 million in funding led by 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 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. The latest round brings Simple Contacts’ total funding to $26 million.
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. Founded in 2016, 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. . 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.
“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.”