Baltimore-based T. Rowe Price led a $75 million Series E for Warby Parker in a funding round that is bringing chatter about an IPO for the eyewear company.
The latest round brings with it a valuation of $1.75 billion, according to Recode, which also reported that the company is expecting to be profitable this year. With the funding, the company also announced that Harvard Business School professor Youngme Moon is joining its board.
T. Rowe Price is an existing investor in New York–based Warby Parker, having led the company’s 2015 funding round through its New Horizons Fund, managed by Henry Ellenbogen. The mutual fund has garnered big returns in part by putting a small amount of investment aside for privately-held, early-stage companies. Twitter and Lutherville-based Bill Me Laterare also among the companies Ellenbogen backed early on.
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