Eight Sleep Raises $86M in Series C Funding

Eight Sleep, a Miami, FL-based sleep fitness company, closed an $86M Series C funding round.

The round was led by Valor Equity Partners, with participation from other funds, including SoftBank, Khosla Ventures, Founders Fund, and General Catalyst. Antonio Gracias, Valor’s Founder, CEO, and CIO, joined the Eight Sleep Board. Mr. Gracias sits on the boards of Tesla, SpaceX, and K Health and has led investments in other companies, including Bird, Reddit, and Uber.

The company intends to use the funds to accelerate innovation and technology roadmap and grow the size of the team.

Founded in 2014 and led by Matteo Franceschetti, CEO, Eight Sleep is a sleep fitness brand which leverages thermoregulation, data, and technology to design products to restore individuals to their peak energy levels every morning. The company recently launched SleepOS, an operating system for sleep optimization that includes a new suite of cutting-edge features: Smart Temp Autopilot and Sleep and Health Insights. SleepOS acts as the brains of Eight Sleep and uses data to personalize and adjust the Pod towards each users’ unique sleep fitness goals.

Currently more than 100 pro athletes use the Eight Sleep Pod to power their recovery, including current and former Olympians Matthew Dellavedova (2020 Bronze Medalist, Basketball), Daryl Homer (2020, and 2016 Silver Medalist, Fencing), Jane Campbell (2020 Bronze Medalist, Soccer) and Apolo Ohno (Two-Time Gold Medalist, Speed Skating). Ahead of the 2021-2022 season, the Sacramento Kings introduced the Eight Sleep Pod team-wide to improve player performance through sleep fitness optimization.

Since the launch of its Pod technology, the company has built a following amongst celebrities, pro athletes, entrepreneurs, and executives, many of whom are invested in the company, including Alex Rodriguez (retired MLB athlete and entrepreneur), Kevin Hart (actor and comedian), Kyle Vogt (founder of Cruise), Naval Ravikant (founder of Angelist), Anthony Pompliano (entrepreneur), Kris Bryant (San Francisco Giants outfielder), J.D. Martinez (Boston Red Sox outfielder), and Sophia Amoruso (author and entrepreneur).

Eight Sleep currently ships to the U.S. and Canada directly via eightsleep.com. By the end of 2021, the company plans to expand distribution to new international markets.