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Cyndx Insights: Casper

Cyndx Insights: Casper

Launched in 2014, Casper, a company specializing in custom multilayer foam mattresses, recently reached a $1.1bn valuation, and is expected to IPO later this year. Casper takes advantage over the recent Direct-to-Consumer trend. Casper ships mattresses to consumers nationwide, each mattress ranging between $350 and $2,750.

As the company looms over a potential IPO, Cyndx wanted to analyze the market to understand who the other players are in the sleep market.

 

Running a Cyndx Finder company search on Casper yields 497 companies operating in a similar space. Of these 496 companies, 254 are private.

Screen Shot 2019-05-28 at 5.26.44 PM.png

 

As we can see, the top 3 public companies in the space are

  1. Tempur Sealy
  2. Sleep Number
  3. Purple

Looking at recent capital raises we see, as expected, Casper is the most recent, with a capital raise of $100M. Also included is Simba Sleep, having raised $6.59M, and Wakefit, having raised nearly $9M.

There are 3 most active investors, each with 5 investments in 1 company.

  1. YYX Capital has 5 investments in Simba Sleep
  2. Octopus Ventures has 5 investments in eve Sleep
  3. Norwest Venture Partners has 5 investments in Casper

 

And finally, looking at the top three players in the market (excluding Casper), we see the following:

  1. Helix Sleep, a New York based company that brings custom mattresses to the market (at value-driven prices)
  2. Novosbed, an eCommerce brand delivering high-end mattresses to US and Canadian customers
  3. eveSleep, a UK company specializing in luxury sleep solutions

 

Let us know what you think!

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