Leesa Raises $9 Million to Disrupt Mattress Industry
Virginia Beach, Virginia (PRWEB) July 07, 2015 -- Leesa, an online luxury mattress company that is disrupting a traditional brick-and-mortar industry with an extremely comfortable, direct-ship mattress and an industry-leading social impact program, today announced the close of a Series A funding, raising $9 million at a post-money valuation of $45 million. Leesa will use the Series A funds to continue its rapid growth, predominantly through increased marketing in the U.S. and an international expansion, starting with its U.K. launch later this month. A larger Series B round at a significantly higher valuation is also planned to fund ambitious plans to open up new sales channels, launch new products and extend the brand into related businesses.
“Leesa is at the busy intersection of an industry ripe for disruption, a fabulous groundbreaking product, and an extraordinary team of direct-to-consumer, online marketers, social media experts, designers, developers and operators,” says Leesa co-founder and chief executive officer, David Wolfe. “It’s amazing to think that after just 6 months, we’re on track to achieve $30 million in sales in our first year and will help more than 10,000 people sleep better.”
The Series A funding was led by TitleCard Capital, a private equity firm that combines entrepreneurial investment expertise with the influential marketing power of celebrity investors from the fields of sport, entertainment and business.
“While we were not out aggressively raising funds for Leesa, our introduction to TitleCard Capital was compelling and it fundamentally aligned with our growth strategies through social media,” commented Wolfe. “With TitleCard Capital’s management team and high profile influencers, we saw the opportunity for a shared vision.”
“With individuals like David and 20-year mattress industry pro Jamie Diamonstein behind Leesa, we saw the best match for our own thesis—adding capital and tastemaker influence to innovative thinking and savvy activation,” said Tyler Tysdal, managing partner for TitleCard Capital. “For any great business, the benefit goes to the consumer—a superior product at a lower price with the same ease of purchase of buying a book online.”
Leesa’s successful launch and fast growth has also helped jumpstart its social impact program, dubbed Leesa One-Ten. Through this program, the company donates one mattress for every ten sold. Leesa has already committed more than 800 mattresses to shelters, 320 of which will be donated to the Bowery Mission shelters in New York. The kick-off donation event will be for the Bowery Mission’s newly refurbished flagship men’s shelter, which will take place on July 15th.
"We are happy to be helping New York, which is also the home field for TitleCard members - Rangers goalie Henrik Lundqvist and Jets wide receiver Eric Decker," said TitleCard partner Eric Epstein.
For more information or to purchase a Leesa mattress with a 100-night, risk-free in-home trial backed by a full refund policy and free shipping, visit http://www.leesa.com.
Gisela Michan, BAM Communications, http://www.bamcommunications.biz, +1 858-449-0948, [email protected]
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