Industry Mattresses CEO Philip Krim (Aug 2013–) Type of business Private | Website casper.com Founded 2013 | |
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Area served Austria, Canada, Germany, Switzerland, United Kingdom, United States Products Mattresses, Pillows, Sheets, Dog Mattresses Headquarters New York City, New York, United States Founders Philip Krim, Jeff Chapin, Luke Sherwin, Neil Parikh, Gabe Flateman Nominations Clio Award for Product Design Profiles | ||
Casper is a privately held, U.S. based, e-commerce company that sells mattresses online. Headquartered in New York City, the company has showrooms in New York City and Los Angeles and mattresses are manufactured in both Georgia and Pennsylvania.
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History
Casper launched in April 2014 by Philip Krim (previously of The Merrick Group, angelbeds.com, tranquilitymattress.com and SleepBetterStore.com), Neil Parikh, T. Luke Sherwin, Jeff Chapin (previously of R&D at IDEO mattress company), and Gabriel Flateman.
In January 2014, the company raised $1.85 million in its first round of funding. The round was led by Lerer Ventures and Norwest Ventures and also included funding from Crosslink Partners, Vaizra Investments, and Correlation Ventures.
On April 22, 2014, Casper officially launched, selling $1 million worth of product in the first 28 days. In August 2014, an additional $13.1 million was received in Series A funding, including investments from New Enterprise Associates, Ron Conway’s SV Angel, Ashton Kutcher's firm, A-Grade Investments, fashion designer Steven Alan, Queensbridge Venture Partners, and the investment group of musical artist Nas.
In November 2014, Casper expanded its delivery from the contiguous United States to include Canada.
Led by Institutional Venture Partners, the company raised $55 million Series B venture funding in June 2015. The Series B funding included participation from celebrity investors: Tobey Maguire, Leonardo DiCaprio, Scooter Braun, Adam Levine, and Pritzker Group Venture Capital.
Products
Casper mattresses consist of dunlop latex foam, memory foam, and polyurethane support foam. Casper mattresses have been available for testing in New York and Los Angeles showrooms but only available for purchase online. Each mattress has been sold with a 100-day return policy. Returned mattresses have been donated.
In November 2015, the company expanded their product offering to include pillows and sheets.
In August 2016, Casper introduced their fourth product, a dog mattress.
Delivery
Casper mattresses are compressed to fit into a condensed 21” by 21” by 41” box for portability. The mattresses decompress after unboxing. In August 2014, Casper teamed up with Uber to deliver mattresses to New York City customers.