deals, VC, Devices

Ophthonix Raises $25.9M for Vision-Correction Technology

Juha-Pekka Tikka 5/27/09

Vista, CA-based vision correction company Ophthonix has closed a $25.9 million “Series AA” financing round. According to a press release the company’s current investors Kleiner Perkins Caufield & Byers, Enterprise Partners, DAG Ventures, Gund Investment Corporation, InterWest Partners, Trex Enterprises, and Wasath Advisors’ Cross Creek Capital Fund participated, in addition to a new, undisclosed investor.

In an SEC filing last December, Ophthonix indicated it had raised $13.6 million of the $26.5 million it was seeking in the round.

Founded in 2000, Ophthonix markets iZon brand eyeglass lenses, which the company says offer more sharpness, contrast, and clarity than traditional lenses. Ophthonix also sells the so-called Z-View Aberrometer, a laser-based eye-examining device that analyzes how light travels through the eye to determine each patient’s lens prescription. Ophthonix will use the new financing to “build distribution among leading optometrists, while capitalizing on our recent strides in improving manufacturing margins and reducing operating expenses,” said CEO Stephen Osbaldeston in the press release.