Casper, a New York City-based mattress maker, raised $13.1m in Series A funding.
The round was led by New Enterprise Associates with participation from SV Angel, A-Grade Investments, Slow Ventures, Consigliere Brand Capital, Silas Capital, Cendana Capital, fashion designer Steven Alan, Lerer Hippeau Ventures, Norwest Venture Partners, Crosslink Capital, Vaizra Investments, Queensbridge Ventures, and Correlation Ventures. In conjunction with the funding, Tony Florence of NEA and Ben Lerer of Lerer Hippeau Ventures joined Casper’s board of directors.
The new investment will advance product design and innovation, allowing Casper to expand its sleep offerings. With sales growing month over month, Casper strikes a chord with a consumer demographic alienated by the industry.
Launched in April 2014 by Philip Krim, CEO, Casper has generated millions in sales to date with its first product, the Casper (priced $500 – $950), a mattress designed and engineered in-house with a team led by Jeff Chapin, a former IDEO designer.
The patent-pending sleep surface is made in America, and unites memory and latex foams. It ships free via UPS or bike messenger in a sized box.
In March 2014, the company closed a $1.85m seed round (read here).