Innovative Sleep Startup Poised to Take On Canada's $1.5 Billion Mattress Industry
TORONTO, Nov. 19, 2014 /CNW/ - Casper, a company reimagining the sleep experience, today announces the company's first international expansion into Canada. The company's first product, its outrageously comfortable mattress that has provided one million nights of sleep in the United States, is now available for purchase in all Canadian provinces and territories.
Shoppers can order a Casper at casper.com and receive a compactly-packed mattress right to their door via two-day shipping no matter where they live in Canada. Casper also offers a 100-day trial period, so any customer that isn't fully satisfied can arrange the mattress to be picked up for donation, and receive a full refund.
With just one ideal construction, Casper demonstrates clear opposition to mattress retailers' rampant opacity that makes comparison shopping nearly impossible. The business model eliminates the fragmented mattress retail channel, which is fraught with commission-driven salespeople, deceptive marketing terms, and heavily inflated prices. With a focus on product engineering and sleek design, Casper sells its bed directly to consumers online at a third of what it would cost in a store — starting at 650 CAD.
Casper's five founders have a combined background in product engineering, design, ecommerce, and are rewriting the rules of the mattress industry with their critically acclaimed sleep surface and direct-to-consumer business model.
"We had planned on expanding to Canada in 2015, but thousands of requests convinced us to move as quickly as possible," says Philip Krim, co-founder and CEO at Casper. "The mattress industry in Canada is convoluted, purposely confusing, and just as rampant with overpriced and outdated products as it is in the United States. Consumers are ready for a change, and we could not be more excited to provide Canadians with an easier way to a better night's sleep."
Design
Created by award-winning engineers from INDEO, Muji, and NASA, Casper's patent-pending mattress unites latex foam and memory foam technologies. Its proprietary 10" construction contours to the body, sleeps cool, and provides incredibly comfortable support.
Manufacturing
The Casper mattress is manufactured in America, with foams crafted in Georgia and Pennsylvania, and fabrics stitched in South Carolina and Illinois. Its signature "MacBook meets mattress" cover contains materials sourced from both Belgium and the United States.
Packaging and Delivery
Casper delivers anywhere in Canada for free via 2-day air. Casper uses a patented German compression machine to allow for compact shipping, a process that reduces delivery costs by more than 66%. The result? A mattress that arrives in a 41" x 21" x 20" box — the size of a golf bag — that easily fits in the trunk of a car, allowing for easy transport.
Sizes and Pricing
The Casper mattress is available in the six standard sizes, and includes a 100-day trial period and 10-year full warranty: Twin: 650 CAD, Twin XL: 750 CAD, Full: 950 CAD, Queen: 1050 CAD, King: 1150 CAD, California King: 1150 CAD. All shipping and return pick-ups are free.
Funding
In August 2014, Casper announced a $13.1M series A round led by NEA, with new participants including Ron Conway's SV Angel, Ashton Kutcher's A-Grade Investments, Slow Ventures, Mike Duda's Consigliere Brand Capital, Silas Capital, designer Steven Alan, and Cendana Capital. Existing investors, including Lerer Hippeau Ventures, Norwest Venture Partners, Crosslink Capital, Vaizra Investments, Queensbridge Ventures, and Correlation Ventures, also participated in the round.
About Casper
Casper is a sleep startup that launched in April, 2014 with an outrageously comfortable mattress sold directly to consumers — eliminating commission driven, inflated prices. The critically acclaimed sleep surface was developed in-house, has a sleek design, and is delivered right to your door in a small, "how did they do that?" sized box. casper.com | twitter.com/casper | facebook.com/caspersleep
SOURCE: Casper
Press Contact, USA: Lindsay Kaplan, Casper, [email protected], 914 489 4496; Press Contact, Canada: Marci Hotsenpiller, Zinc PR, [email protected], 250 650 6524
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