Launched by entrepreneurs Jas Bagniewski, Kuba Wieczorek, Felix Lobkowicz and James Fryer in February 2015, eve Sleep is helping bring the traditional ‘try before you buy’ mattress industry online.
Its disruptive approach has now attracted big name investors, Octopus Ventures and DN Capital, who are backing the business for the third time with a yet another major seven-figure investment.
To close the first half of the company’s Series B funding round, Channel 4 the British public-service television broadcaster, has also invested to enable the enterprising start-up to enter the realm of television advertising for the first time, driving awareness and engagement with potential customers across the UK.
eve Sleep is the latest investment from Channel 4’s Commercial Growth Fund that launched in June 2015. The initiative offers high growth companies not currently advertising on television in the UK, the opportunity to build their business through advertising on Channel 4, by exchanging equity stakes or striking revenue share arrangements.
Bagniewski, CEO and co-founder of eve Sleep said: “Since launching in February 2015, business has been incredible as consumers and investors embrace and continue to back our brand as much as we do.
“We are seeing 25% growth month-on-month, which has been fueled by word of mouth about the quality of our product and our truly “customer first” approach which includes 3-day delivery and a 100-night sleep trial.
“We are delighted to welcome Channel 4 to our investment portfolio. Their backing, alongside Octopus Ventures and DN Capital, is proving transformational for eve Sleep and will allow us to continue our ambitious expansion plans both around across the UK and internationally.”
Vinay Solanki, head of Channel 4’s Commercial Growth Fund, added: “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.”
Since launch, the online retailer has expanded into the US, France and Germany and has been growing their product offering to now include premium pillows and sheets.