Dive Brief:

• Eyewear retailer Warby Parker has raised $100 million in investments led by T. Rowe Price, joined by Wellington Management and existing Warby Parker investors Tiger Global Management and General Catalyst.

• The round brings the e-retailer upstart’s total funding to $215.5 million and doubles its valuation to $1.2 billion.

• Warby Parker said that the new funding will go to expanding its physical footprint.

Dive Insight:

Warby Parker's label as an “e-retailer” isn’t quite right anymore, with the company’s success in brick-and-mortar and expansion plans. ​The company was founded on the idea that stylish eyewear needn’t be outrageously expensive, and that e-commerce would be a way to sell to customers at lower prices. The startup developed a handy system where customers could try on several glasses, mailing frames back and forth until they made their choice. Or choices — the frames are affordable enough that many fashion-conscious people opt to have a few pair.

But Warby Parker also surprised many by experimenting with brick-and-mortar stores, which have grown to half the company. With new expansion plans possible, look for a new Warby Parker store coming near many more customers.

“Over the past five years we’ve experienced significant growth,” Warby Parker co-founder and co-CEO Dave Gilboa told TechCrunch. “We’ve expanded our team to nearly 500 employees, invested in technology to provide an exceptional customer experience online and off, and increased our retail footprint across the country. This round of funding will allow us to continue to scale the business while focusing on product and technology innovation. We’re excited about what’s ahead.”