Casper, a NYC-based sleep company, closed a $170M Series C funding.
The round was led by Target (TGT), with participation from Tresalia, IVP, Norwest, Lerer Hippeau Ventures, New Enterprise Associates, Irving Capital, and Kevin Spacey, Curtis “50 Cent” Jackson, Carmelo Anthony, Kyrie Irving, Shaun White, and Andre Iguodala.
The company, which has raised total funding to date to $240M, intends to use the funds for product innovation and multi-channel expansion.
Led by Philip Krim, CEO and co-founder, Casper provides sleep products including its flagship mattress, followed by pillows, sheets, foundation, bed frame, duvet, and dog mattress. The entire range is designed by its in-house R&D team in San Francisco.
Since launching in April 2014, the company earned $1M in revenue in its first 28 days, went on to earn $100M in 2015, and doubled its annual revenue to more than $200M in 2016.