New York-based Eight Sleep recently secured $100 million in new funding. This significant Eight Sleep funding round included investors HSG, Valor Equity Partners, Founders Fund, and Y Combinator. Additionally, Ferrari F1 driver Charles Leclerc and McLaren F1 CEO Zak Brown participated. Consequently, Eight Sleep's total capital raised now stands at approximately $260 million.
Advancing AI-Powered Sleep Technology
The company plans to accelerate its growth within the medical sector. Furthermore, it will build upon its existing health-monitoring capabilities. Eight Sleep also intends to pursue FDA approval for new features.
Founded in 2014, Eight Sleep offers AI-powered smart mattresses. Its flagship Pod product tracks sleep stages, heart rate, and breathing patterns, automatically adjusting temperature and firmness. Moreover, the company has generated over $500 million in Pod sales. Indeed, revenue expanded tenfold since the Pod's 2019 launch. It has collected insights from over one billion hours of recorded sleep data.
Eight Sleep is expanding beyond the Pod with its Sleep Agent. This AI-driven system uses large language models to create digital twins for users. It predicts outcomes, aiming to optimize nightly recovery. Furthermore, the company currently ships to over 30 countries. Consequently, it now plans expansion into China, a significant consumer market.
The sleep tech market features diverse competitors. These include wearable devices like Oura, Fitbit, and Apple. Medical-focused companies such as ResMed also compete. Smart mattress makers like Sleep Number are present. Eight Sleep's Autopilot feature differentiates its offering. It builds a personal blueprint and adapts continuously for each user. This latest Eight Sleep funding round will fuel further product development.
Eight Sleep prioritizes user data privacy. All data remains encrypted and is never sold. The company complies with regulations like GDPR and CCPA.
