INSUBCONTINENT EXCLUSIVE:
Direct-to-consumer mattress business Casper has secured a $100 million Series D investment from existing investors Target, NEA, IVP and
officer and co-founder Philip Krim said in a statement
Our growth will continue to be catalyzed by state-of-the-art sleep products, best-in-class customer experiences, and world-class
In a press release issued today, however, Casper said 2018 revenue topped $400 million
year.Casper has previously raised $240 million in equity funding from celebrity investors Leonardo DiCaprio and 50 Cent, as well as
institutional investors, including Lerer Hippeau .Founded in 2014, the New York business will use the latest investment to expand overseas
and open additional brick-and-mortar stores
Competing with other well-funded startups in the business of sleep, like the publicly traded Purple and the VC-backed Leesa Sleep, Casper
has taken to physical retail to augment its following
The company opened its first store in New York City in 2018 and has detailed additional plans to open another 200 stores.An initial public
offering is likely the next step for the sleep products retailer, which sells pillows and an $89 sleep-friendly light, in addition to
Per a recent Reuters report, Casper is in the process of hiring underwriters for its IPO.
