Stanford-StartX Fund-backed smart mattress manufacturer Eight Sleep has increased its total funding to almost $65m following a $40m series C round led by Founders Fund.
Eight Sleep, a US-based advanced mattress producer backed by Stanford-StartX Fund, completed a $40m series C round yesterday led by Founders Fund.
Craft Ventures, Khosla Ventures, Y Combinator and 8VC filled out the round together with private investors Ryan Petersen, founder of freight forwarding company Flexport, and Kevin Hartz, co-founder and chairman of event ticketing app Eventbrite.
Founded in 2014 as Luna, Eight Sleep has developed a smart mattress that tracks data such as heart and respiratory rates as well as body temperature, automatically regulating temperature to improve sleep quality.
The series C funding will allow Eight Sleep to double its headcount, grow its retail footprint and strengthen its research and development activities. Trae Stephen, partner at Founders Fund, will join the board of directors.
Khosla Ventures previously led a $14m series B round in March 2018, with participation from Y Combinator and Yunqi Partners.
Stanford-StartX Fund, the investment fund affiliated with Stanford University, and Comcast Ventures, the corporate venturing division of mass media group Comcast, backed a $6.9m series A round in 2017 together Yunqi Partners, Azure Capital, Sinovation Ventures and Y Combinator.
Stanford University and Comcast Ventures had already participated in a $6m seed round in 2016 together with Y Combinator, Yunqi Partners, Azure Capital, Cota Capital, Vast Ventures, Galvanize Ventures and angel investor Jared Friedman.
– A version of this article first appeared on our sister site, Global Corporate Venturing.
