Eight Sleep adds Trae Stephens to its Board along with raising $40m funding led by Founders Fund

– USA, NY –  Eight Sleep, the world’s first sleep fitness company, today announced the closing of a $40 million growth investment round led by Founders Fund with participation from Craft Ventures, Khosla Ventures, Y Combinator, 8VC, Ryan Petersen – Founder of Flexport, and Kevin Hartz – Co-Founder and Chairman of Eventbrite. The round brings the company’s total equity funding to nearly $65 million.

Trae Stephens, Partner at Founders Fund is joining the board of directors.

Since launching in 2015, Eight Sleep has pioneered sleep performance within the health and wellness industry by harnessing data to deliver cutting-edge innovative products that solve sleep’s biggest problems. Its latest innovation, the Pod, launched to great success in February 2019. This high-tech bed is the first to combine dynamic temperature regulation, biometric tracking, smart home integrations and sleep coaching to deliver a total solution for enhanced rest and recovery. The Pod has been adopted by professional and high-performance athletes alike as well as 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. “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.”

“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,” said Trae Stephens, Partner at Founders Fund. “Eight Sleep’s thermodynamic solution to regulate your body temperature to enhance sleep is a complete game-changer.”

As Eight Sleep develops innovation to promote sleep fitness and further enhance recovery, the brand continues to closely collaborate with its world-class Scientific Advisory Board, which includes the country’s top minds at the forefront of sleep research including

  • Dr. Robert Stickgold – Associate Professor of Psychiatry at Harvard Medical School,
  • Dr Craig Heller – Professor at Stanford University and Head of Sleep Research Center at Stanford,
  • Dr. David Rapoport, Professor of Medicine, Pulmonary, Critical Care and Sleep Medicine at Mount Sinai,
  • Dr. Philip Gehrman – Assistant Professor, Department of Psychiatry at the University of Pennsylvania’s Perelman School of Medicine,
  • Dr. Brian Koo – Director of the Yale Center for Restless Legs Syndrome.

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 New York City 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 by TIME’s “Top Inventions of 2018.” Eight Sleep has raised $65M in funding from leading investors including Founders Fund, Khosla Ventures, YCombinator, Craft Ventures, and 8VC.

For more information: https://eightsleep.com

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