Eight Raises $6M in Seed Round for Its Sleep-Tracking Mattress Cover
Not to be caught napping, New York-based Eight Sleep, the developer of a sleep-tracking mattress cover, last week raised $6 million in a seed round—the follow up to a $1.2 million Indiegogo campaign that ended last March.
Eight, previously known as Luna, developed its mattress cover to gather data on sleeping patterns. It can also connect wirelessly with other devices such as lights and smart thermostats, adjusting them when the user turns in for the night.
CEO and co-founder Matteo Franceschetti says the new money will be used to make new hires, especially as his company works to meet its goal this spring to fulfill preorders for the mattress cover. “We recruited over the past month, but we need more people now,” he says. Particularly, Eight is looking for mobile developers, backend engineers, and other software engineers. The company also plans to expand its marketing team, especially as it starts shipping. All told, Eight expects to make up to 10 new hires to join the current staff of 14, Franceshetti says.
In addition to shipping the sleep-tracking mattress covers, the company will work on its software and add new features to improve the user experience, he says.
Coping with his own troubles with sleep led to the creation of Eight, Franceshetti says. His doctor suggested keeping a sleep diary to record information such as how many times he awoke in the middle of the night. Understanding what happens when someone is asleep, such as their patterns and habits, can help improve an individual’s sleep, Franceshetti says.
The company is developing software services for coaching and to assist with relaxation so users can fall asleep faster. “People can’t sleep sometimes because their mind is racing,” Franceschetti says.
There is more than sleep tracking at work at Eight. The mattress cover can connect via Wi-Fi to connected devices in the home, so they will function around the user’s sleep schedule. For example, it can adjust the temperature through a Nest thermostat based on when they are asleep. It can also turn the lights off for them.
Eight’s smart mattress cover will be available for sale, with a $99 down payment, first through the company’s website and then through Amazon.com by late spring. The company expects general retailers to be able to see it by year’s end.