Casper Shoots For The Stars With $55 Million Financing For Its Mattress Business

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It seems that even the stars have come to rest on Casper beds.

The 14-month-old startup has just confirmed its $55 million new round at a $550 million valuation in a celebrity filled investment syndicate designed to expand its business.

Almost as impressive as the sky-high numbers are the big Hollywood names that have come down from the firmament and are throwing their money (if not their muscle) behind the company.

The round was led by new investor Institutional Venture Partners and included some celebrities who you wouldn’t typically associate with the bed business.

Rounding out the round’s new investors are Leonardo DiCaprio, Tobey Maguire, Adam Levine, and Scooter Braun alongside new institutional investor Pritzker Group Venture Capital.

Previous investors New Enterprise Associates, Lerer Hippeau Ventures, Norwest Venture Partners, Vaizra Investments, SV Angel, Slow Ventures and Nas’ Queensbridge Ventures also participated (shocking, because Nas never sleeps).

Last year, Casper announced $13.1 million in its Series A round. In all, the company has raised $69.95 million.

“It’s another step on the road to hopefully one day having something big,” says chief executive Phillip Krim.

The new money will be used to expand Casper’s research and development staff, increase the company’s headcount beyond its current 75 employees, and begin laying the groundwork for international expansion.

Last week Casper announced its same-day delivery feature in San Francisco, one of many features the company is looking to add to beef up an already impressive sales figure.

Right now, Casper is looking at a run-rate of $100 million, an impressive figure even taking into account the company’s $1 million haul in its first month as a business.

For those of you who aren’t familiar, Casper’s bed-in-a-box was designed by former IDEO inventors and is made from a combination of memory and latex foams. The company provides a 100-day in-home trial and a 10-year warranty.
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