Total amount raised
$162.1 Millions
Latest funding date
Location
Eight Sleep has successfully raised significant funding over multiple rounds, with its latest being a Series C. The company is known for its innovative sleep fitness products that incorporate hydro-powered cooling technology and health tracking.
Keep reading to explore the intricacies of Eight Sleep's fundraising journey and the investors backing this cutting-edge platform.
What Is Eight Sleep?
Founded in 2014, Eight Sleep is headquartered in New York, New York. The company was established by Alexandra Zatarain, Andrea Ballarini, Massimo Andreasi Bassi, and Matteo Franceschetti.
Eight Sleep specializes in sleep fitness products that utilize hydro-powered cooling technology and health tracking to enhance sleep quality. Their flagship product, the Pod, offers features like automatic temperature adjustments and health metric tracking.
With a team of 11-50 employees, Eight Sleep continues to innovate in the sleep technology space, aiming to help individuals achieve peak energy levels each morning.
How Much Funding Has Eight Sleep Raised?
- Seed Round
- Amount Raised: $6M
- Date: March 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop initial product prototypes and validate market demand.
- Series A
- Amount Raised: $10.4M
- Date: October 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale production and expand the team.
- Series A
- Amount Raised: $5M
- Date: January 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and increase market reach.
- Series B
- Amount Raised: $14M
- Date: March 2018
- Lead Investors: Khosla Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the technology and expand into new markets.
- Series C
- Amount Raised: $40M
- Date: November 2019
- Lead Investors: Founders Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate innovation and enhance the technology roadmap.
- Series C
- Amount Raised: $86M
- Date: August 2021
- Lead Investors: Valor Equity Partners
- Valuation at Round: Close to $500M
- Motivation Behind the Round: To scale the sleep fitness movement and expand internationally.
Eight Sleep has raised a total of $161.4M with a current valuation of close to $500M.
Key Investors
- Valor Equity Partners
- Details: Valor Equity Partners is a private equity firm founded by Antonio Gracias. The firm is known for its investments in high-growth companies.
- Investment Focus Areas: Technology, consumer, industrial sectors.
- Notable Investments: Tesla, SpaceX, GoPuff.
- SoftBank
- Details: SoftBank is a Japanese multinational conglomerate holding company. It is renowned for its Vision Fund, which invests in technology-driven companies.
- Investment Focus Areas: Technology, telecommunications, energy sectors.
- Notable Investments: Uber, WeWork, ARM Holdings.
- Khosla Ventures
- Details: Khosla Ventures is a venture capital firm founded by Vinod Khosla. The firm focuses on impactful technology and healthcare innovations.
- Investment Focus Areas: Technology, healthcare, clean energy.
- Notable Investments: DoorDash, Square, Impossible Foods.
- Founders Fund
- Details: Founders Fund is a venture capital firm founded by Peter Thiel, Ken Howery, and Luke Nosek. It invests in companies with transformative potential.
- Investment Focus Areas: Technology, science sectors.
- Notable Investments: Facebook, SpaceX, Palantir Technologies.
- General Catalyst
- Details: General Catalyst is a venture capital firm founded by Joel Cutler and David Fialkow. The firm supports early-stage and growth-stage companies.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Airbnb, Stripe, Snap Inc.
What's Next for Eight Sleep?
Eight Sleep is poised to capitalize on the burgeoning sleep technology market, with opportunities to expand internationally and enhance its product line. The global sleep economy, valued at over $432 billion, offers a vast playground for innovation and growth. The company’s focus on leveraging AI and data to optimize sleep positions it well to tap into the increasing consumer interest in health and wellness.
Future fundraising efforts could be directed towards further technological advancements and broader market reach. However, Eight Sleep will need to navigate challenges such as intense competition and the high costs of continuous innovation. Ensuring data privacy and compliance with international regulations will also be critical as the company scales.
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