– USA, FL – Eight Sleep, the world’s first sleep fitness company, today announced it has closed $86M in Series C funding led by Valor Equity Partners, with participation from other funds, including SoftBank, Khosla Ventures, Founders Fund, and General Catalyst.
Concurrent with the financing, Antonio Gracias, Valor’s Founder, CEO, and CIO, joined the Eight Sleep Board. He sits on the boards of Tesla, SpaceX, and K Health and has led investments in other highly disruptive companies, including Bird, Reddit, and Uber.
Since the launch of its best-selling Pod technology, Eight Sleep has built a cult-like following amongst celebrities, pro athletes, entrepreneurs, and executives, many of whom are invested in the company, including Alex Rodriguez, Kevin Hart, Kyle Vogt, Naval Ravikant, Anthony Pompliano, Kris Bryant, J.D. Martinez, and Sophia Amoruso. To date, Eight Sleep has raised over $150M and 2021 revenue is on track to more than triple vs. 2020. The funds will be used to accelerate the company’s innovation and technology roadmap and grow the size of the team.
“Our end goal is to develop the most sophisticated technologies for restorative and preventative health and this round helps us invest in building the team that will develop the next-generation of Eight Sleep products,” said Co-founder and CEO, Matteo Franceschetti. “Beyond our successful solutions for thermoregulation, we’re working towards managing all of the factors that may disrupt users’ rest to ensure everyone can improve sleep fitness for better health, performance, and longevity.”
“The sleep tech market is only in its infancy. The opportunity is limitless, as we spend up to a third of our lives asleep. Consumers are increasingly focused on sleep fitness as the understanding of how deeply important sleep is to overall health becomes more widely known,” said Antonio Gracias. “The first night I slept on the Pod I knew we had to get involved. We’ve seen this in our portfolio many times – Eight Sleep’s products and technology are disrupting the sleep market, and its rapid innovation is outpacing the competition as it builds a new sleep fitness-focused category that delivers results.”
About Eight Sleep
Eight Sleep is the world’s first sleep fitness brand with a mission to fuel human potential through optimal sleep. Founded in 2014, Eight Sleep leverages thermoregulation, data, and technology to design products to restore individuals to their peak energy levels every morning. Eight Sleep was named one of Fast Company’s “Most Innovative Companies of 2018” and recognized two years in a row by TIME’s Best Inventions of the Year.
For more information: https://www.eightsleep.com/
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