Casper Sleep Inc., a NYC-based online mattress retailer, raised $100m in funding.
The round valued the company at $1.1 billion and brought total funding raised to date to $340m.
Backers included Target Corp., New Enterprise Associates and Norwest Venture Partners, as well as new investors Dani Reiss, the chief executive officer of Canada Goose Holdings Inc. and Gordon Segal, co-founder and former chairman of Crate & Barrel.
The company plans to use the funds to accelerate international expansion and increase the number of its physical retail presence.
Founded in 2014 by CEO Philip Krim, Jeff Chapin, Neil Parikh, Luke Sherwin, Gabe Flateman, Casper is an e-commerce company that sells sleep products including mattresses, pillow, bedding, and furniture developed in-house by an R&D team in San Francisco.
Casper Labs is a platform which uses real-time user feedback, testing, and research to constantly iterate and improve upon existing company’s products. Casper produces some of the best beds for athletes and business professionals.
With 5,000 square feet of workrooms, prototyping machines, testing equipment, and an experimental bedroom, the labs employs more than 50 researchers, scientists, and engineers.
The company has showrooms in New York City, San Francisco and Los Angeles.