Exclusive to members of the LFG network 🚀
LFG Ventures x Eight Sleep
Apr 9, 2024
Terms
Valuation: ~$250M ($1.80/share), 31% DISCOUNT from previous round
Management Fee: 2% annually (capped at 5 years, paid upfront)
Carry: 20%
Minimum Investment: $25k
Target Investment Period: 7 years (expected holding period)
Structure: Common shares from cofounder directly on cap table
Timeline
April 14: Submit firm commitment amount here
April 19: Receive SPV documents and wire instructions
April 26: Closing (signatures and wires due)
Conviction Points
$100M+ revenue (doubled since last round)
Profitable for three quarters
Available in 13 countries
Vision to scan body while asleep to detect early signs of illnesses
Potential for new products
Top-tier investors: Y Combinator, Founders Fund, Khosla ventures, General Catalyst
About Eight Sleep
Eight Sleep is a sleep technology company that is revolutionizing the way people sleep and recover. Founded in 2014, Eight Sleep has developed an intelligent smart mattress that integrates advanced sensor technology, temperature regulation, and data analytics to optimize sleep quality and enhance overall well-being.
The company's flagship product, the Pod Pro, is a smart mattress that features a proprietary Active Grid layer, which tracks biometric data such as heart rate, respiratory rate, and movement throughout the night. This data is then analyzed using machine learning algorithms to provide personalized sleep coaching and recommendations. Additionally, the Pod Pro offers dynamic temperature regulation, allowing users to set their ideal sleep temperature and maintain it throughout the night.
Eight Sleep's technology has garnered attention from elite athletes, celebrities, and health-conscious individuals who recognize the importance of quality sleep for peak performance and overall well-being. The company has also formed partnerships with leading organizations in the sports and fitness industries, further validating its position as a leader in sleep innovation. As the world becomes increasingly aware of the crucial role sleep plays in health, productivity, and happiness, Eight Sleep is poised for significant growth and impact.
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