NEW YORK—With a new round of $100 million in funding led by T. Rowe Price and confirmed by the financial firm on Thursday, April 30, 2015, multichannel retailer Warby Parker is now valued at $1.2 billion, according to The Wall Street Journal. The new funding will be used to add more brick-and-mortar locations, according to the report, growing from its current 12 stores to 20 by the end of this year. While the report stated that the company is not yet profitable and executives won’t share revenue figures, Warby Parker’s annual sales are still accelerating.

Warby Parker has raised a total of $215 million from investors including Spark Capital and credit-card company American Express Co., the report stated, and its board of directors includes Mickey Drexler, the CEO of J. Crew, and a board member at Apple. A report in Fortune indicated that the company has more than doubled its valuation since its last funding round in December 2013, when it was valued at $500 million.

At this point, the company has no plans to go public, according to co-founder Neil Blumenthal, who told an audience of leading optical industry executives at the recent VM Global Leadership Summit, “I’d like to stay private as long as humanly possible.” For more on the VM interview with Blumenthal, click here: “Warby Parker Co-Founder Appears in Surprise One-on-One at VM Summit.”