Mister Spex bolts on Lensit.no

Harriet Bailey
12 February 2015

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Online optician Mister Spex, backed by several VCs, has acquired Norway-based Lensit.no following a Goldman Sachs-led funding round in January.

The $40m series-C funding round provided the funds necessary to acquire the Norwegian contact lens distributor.

In July 2013, Mister Spex acquired Sweden-based Lensstore and Loveyewear via a capital injection from the firm's existing backers.

Mister Spex stated €32m from the round remains available for further bolt-ons. The company said it was prepared to expand in both existing and new European markets.

The company also plans to expand its network of opticians and is aiming for double-digit growth in 2015.

Previous funding
Goldman Sachs led a $40m series-C funding round in January this year, which saw existing backers Scottish Equity Partners, XAnge and DN Capital reinvest in the company. Goldman Sachs took a reported 20% stake in the business.

Mister Spex raised a €7m series-A funding round in September 2010 from DN Capital, XAnge, Grazia Equity, High-Tech Gründerfonds, Point Nine Capital and Astutia Ventures.

In May 2013, SEP joined a €16m series-B round, which saw XAnge and DN Capital reinvest in the business. Mister Spex has raised almost $70m over three funding rounds.

Company
Headquartered in Karmsund, Lensit is an online contact lens distributor. Founded in 2009, it has around 10 employees.

Founded in 2007, Mister Spex is a Berlin-based company offering a range of prescription glasses, sunglasses and contact lenses through its website. It also has a team of trained opticians available to advise customers by phone or email.

Mister Spex generated revenues of €65m in 2014, up from €47m in 2013. It has around 1.5 million Europe-based customers. The company has 300 employees at its sites in Germany, Austria, France and Spain.

People
Dirk Graber is founder and CEO of Mister Spex, while Mirko Caspar is co-managing director. Stein Inge Svendsen is chairman of Lensit.