Eight Announces $6 Million Seed Round To Change The Future Of Sleep

The Y Combinator company is revolutionizing sleep through cutting edge technology and custom sleep programs

Mar 02, 2016, 09:13 ET from Eight

NEW YORK, March 2, 2016 /PRNewswire/ -- Eight (www.eightsleep.com) the technology company changing the future of sleep (formerly known as Luna) — today announced it has closed $6 million in seed funding with participation from investors including: Y Combinator, Yunqui Partners, Azure Capital, Cota Capital, Comcast Ventures, Vast Ventures, Stanford University, Galvanize Ventures, Y Combinator partner and Scribd co-founder Jared Friedman, and others.

The capital raised will be used to accelerate production, develop new products, and finance growth initiatives. The round follows over 6,000 units sold in pre-orders through a successful Indiegogo campaign and Eight's website. Following the fulfillment of pre-sale orders, the Eight Sleep Tracker will be available for purchase on Amazon and at eightsleep.com

"We are leveraging the power of data to understand individual sleep patterns and discover what sleep really means to human life. It's exciting to see so much interest in how technology can improve sleep, and we look forward to getting the Eight Sleep Tracker into the hands of our backers and growing the company as the needs of our customers evolve," said Matteo Franceschetti, co-founder and CEO of Eight.

Eight's name is a play on the average number of hours of sleep recommended per night. Through individual sleep pattern monitoring, the company's mission is to help each person discover what his/her personal sleep quantity is and the optimal conditions in which to achieve it, empowering each customer with the knowledge to live healthier and more enriched lives. Throughout the year, Eight will publish personalized sleep programs tailored to its customers' needs that are supported with scientific research and leverage the data collected by the Eight Sleep Tracker.

"I've seen a number of companies trying to innovate in the sleep space from the rise in direct-to-consumer mattresses to wearables, but Eight is the first company that merges individual data with environmental elements in a way that is organic to how we already go to bed. I'm excited to see how Eight is changing the way we think about sleep, and I'm confident that this is the right team to bring this mission to life," said Y Combinator partner and Scribd co-founder Jared Friedman.

The company additionally boasts a Scientific Advisory Board comprised of sleep experts and physicians, to further its mission to develop the blueprint for maximizing the way we sleep.  Board members to date, include: Dr. Clete Kushida, Neurologist and Sleep Specialist at Stanford Center for Sleep and Medicine, Dr. David Rapoport, Adjunct Professor at NYU Sleep Disorders Center, and Jessa Gamble, Sleep Scientist and Author.

Eight is the first non-wearable sleep tracker on the market that uses healthgrade technology to provide tailored data about sleep and take action on behalf of the user to improve sleep conditions. To better learn and enhance the night experience, the Eight Sleep Tracker is compatible with other personal and home smart devices including fitness trackers and thermostats like Nest, turning your bed into a personal control center. Eight will start shipping in early spring 2016, and is available for presale now for a downpayment of $99 at  eightsleep.com.

To access the media kit, click here.

About Eight:
Eight is revolutionizing the way we sleep. In the form of a smart mattress cover, Eight is a non-wearable sleep tracker that  uses innovative technology to track and learn over 15 factors from your sleep patterns and bedroom environment. The Eight Sleep Tracker provides feedback on optimal conditions for a perfect night's sleep and communicates this data with other smart electronic devices to regulate bed temperature, lighting, door locks, and more, in real time. Eight was founded in 2014 and is based in New York. For more information, please visit www.eightsleep.com.

Media Contact:
Lauren Adler
(917) 921-5690
lauren@astrskpr.com

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