Sleep fitness company Eight Sleep has raised $40 million in funding led by Founders Fund with participation from other investors that included Craft Ventures, Khosla Ventures, Y Combinator, 8VC, Flexport founder Ryan Petersen, and Eventbrite co-founder and chairman Kevin Hartz.
Including this round of funding, Eight Sleep has raised nearly $65 million in total funding.
Ever since Eight Sleep launched in 2015, the company pioneered sleep performance within the health and wellness industry by harnessing data for delivering innovative products that solve the biggest problems with sleep.
Eight Sleep’s latest innovation — which is called the Pod — launched with great success in February 2019. This bed is the first to combine dynamic temperature regulation, biometric tracking, smart home integrations, and sleep coaching for delivering a total solution for enhanced rest and recovery.
The Pod has been adopted by professional and high-performance athletes along with business leaders, technology titans, and venture capitalists.
“We are building a brand that optimizes sleep through technology, data, and insights. This round of financing is a testament to our momentum and will enable us to continue to evolve the Pod, bring more products to market, and build the sleep fitness category,” said Matteo Franceschetti, co-founder and CEO of Eight Sleep, in a statement. “With this new round of funding, we will focus on growth by doubling the team, expanding our retail footprint, and reinforcing our investment in R&D. Our product roadmap will define the future of sleep in a matter of a few years.”
As Eight Sleep is innovating to promote sleep fitness and further enhance recovery, the brand is continuing to closely collaborate with its world-class Scientific Advisory Board — which includes some of the country’s top minds at in sleep research, including Dr. Robert Stickgold, Dr. Craig Heller, Dr. Philip Gehrman, Dr. David Rapoport, and Dr. Brian Koo.
“We all spend ideally a third of our lives sleeping, yet every startup selling mattresses is just innovating on the business model, not on the quality of the sleep they provide,” added Trae Stephen, partner at Founders Fund who is joining the Eight Sleep board of directors. “Eight Sleep’s thermodynamic solution to regulate your body temperature to enhance sleep is a complete game-changer.”
The Eight Sleep Pod has a starting price of $2,295 for a Full, $2,495 for Queen, $2,795 for King and California King.