Eight Sleep, the world’s first sleep fitness startup, has announced the closing of a Series C funding round at $86 Million.
Valor Equity Partners led the round, which counted with participation from other firms like Founders Fund, SoftBank, Khosla Ventures, and General Catalyst. Antonio Gracias, Founder & CEO at Valor will be joining the startup’s board of directors as a result of the round.
Founded in 2014, Eight Sleep has revolutionized traditional sleep by using health-grade sensors and proprietary individual AI models that adapt to the sleeping environment by responding to each user’s sleep patterns, temperature preferences, environment values, and feedback history. This leverages thermoregulation and biofeedback to help the user to be able to sleep optimally.
Its best-selling Pod technology has attracted a big number of followers, with most of them being celebrities, pro athletes, entrepreneurs, and executives. Many of these users also chose to invest in the startup, including retired MLB athlete and entrepreneur Alex Rodriguez, actor Kevin Hart, Kyle Vogt, San Francisco Giants outfielder Kris Bryant, author and entrepreneur Sophia Amoruso, and many more. Matteo Franceschetti, Co-founder and CEO at Eight Sleep, referred to the startup’s technology by stating:
“Beyond our successful solutions for thermoregulation, we’re working towards managing all of the factors that may disrupt users’ rest to ensure everyone can improve sleep fitness for better health, performance, and longevity.”
Case studies show that Eight Sleep products help customers to fall asleep up to 40% faster, get up to 20% more deep sleep, experience 30% fewer mid-night wake-ups, and up to 30% fewer tosses and turn, improving their sleep quality.
To date, the sleep fitness startup has raised a total of $150M through funding rounds, which will be used to accelerate the company’s strategies, grow its team, and expand its distribution to new international markets. Recently, the company has introduced the world’s first operating system for sleep optimization, SleepOS, consisting of Smart Temp Autopilot and Sleep and Health Insights features. The new tech SleepOS will use data to personalize and adjust the Pod for each users’ sleep.