Casper Raises $100 Million and Adds Two New Independent Directors to its Board
Mar 27, 2019, 18:32 ET
NEW YORK, March 27, 2019 /PRNewswire/ -- Casper (casper.com), the global sleep company, today announces the close of $100MM in funding. The fundraise includes return investors NEA, IVP, Norwest, and Target (TGT), as well as several new investors such as Dani Reiss, Chairman and CEO of Canada Goose, and Gordon Segal, Founder and former Chairman of Crate&Barrel.
The new funding will further fuel Casper's category leadership and omnichannel growth, as the company continues to scale its high-performing retail fleet, wholesale distribution, and ecommerce channels.
"We are in the very early chapters of our growth story as demand for Casper products continues to expand across the globe," said Philip Krim, Casper Cofounder and CEO. "Today's financing accelerates Casper's vision to become the world's largest end-to-end sleep company. Our growth will continue to be catalyzed by state-of-the-art sleep products, best-in-class customer experiences, and world-class leadership."
Concurrent with the fundraise, Casper is adding two Independent Directors to its Board of Directors. These additions include:
- Karen Katz, former CEO of Neiman Marcus Group and current Boards include Neiman Marcus Group and Under Armour
- Dani Reiss, Chairman and CEO of Canada Goose
Katz, a renowned leader in the retail industry with diverse experience leading brick-and-mortar and digital growth, comments on her appointment to the Casper Board: "Casper has revolutionized the process of buying a mattress by making the shopping experience easy, transparent, and enjoyable. It has transcended the industry as a next-generation, channel-agnostic business synonymous with better sleep. Casper is uniquely positioned to become one of the most influential health and wellness brands in the world today."
The announcement comes on the heels of record-setting growth for Casper with the company's 2018 revenue topping $400MM. Casper's post-money valuation is now $1.1B.
About Casper:
Casper (casper.com) is a global sleep company, and one of the fastest growing consumer brands of all time, quickly striking a chord with consumers in a category that was stagnant for decades. The company has a full portfolio of obsessively engineered sleep products—including mattresses, pillows, bedding, and furniture—all developed in-house by the company's award-winning R&D team at Casper Labs in San Francisco. In addition to its global ecommerce business, Casper owns and operates more than 20 Sleep Shops across North America and its products are available at retailers including Target and Hudson's Bay.
Contact: Emma Frane
Senior Director, Communications
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SOURCE Casper