Eight Sleep Raises $100 Million, Nears $1 Billion Valuation

Sleep-technology startup Eight Sleep has secured a $100 million financing round led by HongShan Growth (HSG) with participation from Valor Equity Partners, Founders Fund and Y Combinator. High-profile motorsport figures Ferrari Formula 1 driver Charles Leclerc and McLaren Racing Chief Executive Zak Brown also joined the round, which lifts total funding to roughly $260 million and pushes the New York-based company close to a $1 billion valuation—about double the level assigned at its 2021 Series C. Founded in 2014, Eight Sleep sells the AI-powered Pod mattress system that tracks sleep stages, heart rate and other biometrics and automatically adjusts temperature, elevation and firmness. The company says it has logged more than 1 billion hours of sleep data and generated in excess of $500 million in Pod sales, helping its revenue grow ten-fold since the product’s 2019 launch. Fresh capital will finance international expansion, including an entry into China, and accelerate regulatory work on health-monitoring features such as contactless sleep-apnea detection. Eight Sleep is also developing “Sleep Agent,” an AI platform that creates digital twins to predict and optimize nightly recovery, and is pursuing U.S. Food and Drug Administration clearance for certain medical capabilities.