Hest, a designer of sleep products for the outdoors, announced it received $2M in funding from new and existing investors to boost the brand’s product innovation, team growth and sales strategy.
Launched in 2019 with the goal to build portable beds, now offers car-camping sleep products sold online and at brick and mortar retailers in the U.S.
“We are so proud of this most recent fundraising round as it proves enthusiasm in the growth and opportunities of Hest, our expanding product line, and all of the people behind the scene,” said Aaron Ambuske, founder and CEO. “This funding will be used to boost investments in new products and innovations, grow the team, scale the supply chain, including domestic production capabilities, and accelerate the company’s omnichannel sales strategy. We are thrilled to see what HEST rolls out for its customers this next year and beyond.”
This funding round included angel investors, Ascend Venture Capital and the Alliance of Angels.
“Sleep will be a $137B market by 2026. We think Aaron and Hest can do for sleep what Allbirds did for shoes—use innovative design, unique materials and a modern and differentiated brand to create passionate followers in a coveted consumer segment,” said Kirby Winfield, founding general partner, Ascend Venture Capital.
“The pandemic really kicked demands into high gear. The 2020 North American Camping report showed that nearly half of all campers either started camping in 2020 or restarted after having not gone in recent years,” Ambuske continued. “We are rapidly growing, and one of our biggest challenges has been keeping up with customer demands. We look to this new funding round to meet those challenges with new opportunities.”
Later this month, Hest also announced it would launch a car-camping mattress that will be its “most portable mattress.” For more product information, go here.
Photo courtesy Hest