Eight Sleep Secures $100M for AI-Powered Sleep Tech
Eight Sleep, a smart sleep technology startup with a presence in New York City, has secured $100 million in new funding. The company develops AI-driven consumer hardware and software that focuses on health tracking and sleep environment automation, signaling strong investor interest in AI-powered consumer experiences.
- This latest $100 million Series D round, led by HSG, brings Eight Sleep's total funding to over $260 million and its valuation to nearly $1 billion. Notable investors include Valor Equity Partners, Founders Fund, Y Combinator, and individuals like comedian Kevin Hart and F1 driver Charles Leclerc. - The company was co-founded by CEO Matteo Franceschetti, a former lawyer and athlete, CTO Massimo Bassi, and VP of Brand & Marketing Alexandra Zatarain. After being rejected twice, they were accepted into Y Combinator's Summer 2015 batch by building a bedroom in an office to demonstrate their product during the in-person interview. - The new funding is intended to accelerate the development of an "AI Sleep Agent," a platform that will create digital twin simulations of users to predict and proactively optimize for recovery by adjusting factors like temperature and bed elevation. - Eight Sleep's core technology, the Pod, is a mattress cover that uses a network of water tubes to dynamically heat and cool the bed's surface (from 55°F to 110°F) based on sleep stages and biometric data. Its embedded sensors track heart rate, respiratory rate, and movement with a claimed 99% accuracy compared to clinical electrocardiograms, without requiring a wearable device. - Since launching the Pod, the company has generated over $500 million in sales, with revenue reportedly growing 10x since 2020. - The company is actively pursuing FDA approval for medical applications of its technology, with a focus on developing features to address sleep apnea and sleep disturbances related to menopause. - Headquartered in New York City, Eight Sleep is hiring for multiple roles, including Senior Backend, iOS, and Firmware Engineers, as well as positions in product management and business operations.
