UK-based online mattress retail startup Eve Sleep has received £6.9m ($9m) in series B funding from investors including media company Channel 4, which invested through its Commercial Growth Fund.
The round also included Octopus Ventures and DN Capital, the venture capital firms that provided £2.5m of series A funding for the startup in November 2015. Eve Sleep had previously raised £600,000 from Octopus, DN Capital and FJ Labs six months earlier.
Launched in February 2015, Eve Sleep sells its premium mattresses online and claims to be experiencing 25% growth month on month. It offers three-day delivery and a 100-night sleep trial for each customer.
Vinay Solanki, head of Commercial Growth Fund, Channel 4’s ad-for-equity subsidiary, said: “Eve Sleep is an exciting business partner for our Commercial Growth Fund as it seeks to disrupt a traditional “try-before-you-buy” retail industry through its innovative digital led model.
“Since launching last year, their impressive growth illustrates their outstanding execution so far and evidences a clear gap in the market.
“Our investment in eve Sleep’s first ever TV ad campaign will support them in accessing the powerful medium of TV advertising to help consolidate eve Sleep’s brand position in this rapidly emerging segment.”
– Image courtesy of Eve Sleep