SleepChoices

Direct-to-Consumer Mattress Startup

Company Information

Website:

https://sleepchoices.com

Sector:

Bedding

Location:

Coral Springs, FL

SleepChoices aims to disrupt the $16.4 billion mattress market.

Its mattress-in-a-box is sold direct-to-consumers (D2C), and features mattress technology that supports "a deeper, more restful sleeping experience."

This is a big, fast-growing industry. Casper, for example, is a D2C mattress company valued at $750 million. And in 2017, mattress startup Purple agreed to a $1.1 billion merger.

SleepChoices believes it has several advantages over these competitors, including:

• Its mattresses have a 7-zone memory foam construction to provide support and eliminate pain and discomfort.

• A plan to target “GenX” and Baby Boomer consumers, two age groups SleepChoices believes have been neglected by other mattress-in-a-box companies.

• And a founder with more than 30 years of experience in the mattress industry, including 20 years at Leggett & Platt (NYSE: LEG), the world’s largest manufacturer and supplier to the mattress and furniture industry.

According to analytics from Statista, more than 80% of consumers believe the two most important features in a mattress are comfort and support.

Meanwhile, in a 2018 survey, nearly 25% of people ages 30 to 49 (GenXers) and nearly 20% of people ages 50 to 64 (Baby Boomers) said they plan to buy a mattress within the next 12 months.

SleepChoices is targeting these consumers by offering a mattress that provides "continuous pressure and pain relief."

The company’s first product is called “The Snuz.”

It’s based on a zone-design concept, providing pressure relief and support to ensure a painless, restful night sleep. Each mattress includes:

• Quality Knitted Cover: Allows superior ventilation to keep you cool.

• Hyperelastic Polymer Foam: Reduces motion transfer and has grooves to provide constant air flow and support.

• Graphite Infused Memory Foam: Conforms to the body and removes moisture and odors. No other mattress on the market can do this.

• High Density Foam: A support layer to hold the body with less “give."

Prices for the Snuz range from $750 for a twin to $1,050 for a California king. All mattresses are shipped for free and come with a 100-night in-home trial.

SleepChoices has reached $250,000 in sales, and has set up future sales channels with Amazon and Bed, Bath & Beyond.

The company, which received $2 million in seed funding from a major global mattress manufacturer, holds a 95% customer satisfaction rate for its mattresses.

SleepChoices will soon launch the Snuz “HybridBed.” This mattress will offer the support of a traditional coil spring mattress with the comfort of memory foam.

In addition, the company plans to introduce complementary bedding products like foundations, box springs, bed frames, mattress protectors, pillows, and sheets.

Team Background

Larry DeVille - Operations & Administration

Larry has more than 35 years of experience in areas including sales & marketing, and business management.

He served as Executive Director of the Chamber of Commerce for six years, and owned his own IT services business for seven years.

Notably, he was a regional manager for Gateway, a computer company, and served in a managerial role at IBM for 25 years.

Larry earned a Bachelor’s degree in Geography and Mathematics from Northwestern State University.

Philip Shen - Founder & CEO

Philip has spent more than 30 years in the bedding industry.

He worked for 20 years at Leggett & Pratt, a Fortune 500 company and the world’s largest manufacturer and supplier to the mattress and furniture industry.

Philip earned a Ph.D. from Western Michigan University.

Tony Fazzini - Director of Marketing

Tony has a decade’s worth of experience in digital media and marketing.

He was a marketing consultant for YP, where he consulted small- and medium-sized businesses on marketing plans. In addition, he was a senior client strategist for MoreVisibility, a marketing agency.

He earned a Bachelor’s degree in Marketing from Bowling Green State University.

Co-Investors

Raising
$1.07 million
Committed
$36.11K (3%)
Current Valuation
$10 million Cap / 10% Discount
Min. Investment
$100
Deal Type
Title III
(For all investors)
Offering Type
SAFE
Finance History
  • $2 million
    2018-06-08
    Guanzhou Home Furnishings
Notable Investors
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