Va. luxury mattress maker Leesa Sleep raises money to expand

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WASHINGTON — Virginia Beach, Virginia-based Leesa Sleep, whose backers include celebrities Jimmy Kimmel and Kate Hudson, has closed on a new round of funding, raising $23 million led by investment company One Better Ventures.

Leesa Sleep says it will use the new money to expand beyond its direct-to-consumer model into traditional retail sales.

It will also expand its social mission. The company cites the use of business as a force for good as a top priority.

Leesa Sleep, founded in 2015, donates one mattress for every 10 it sells to homeless shelters. To date, its One-Ten program has provided more than 17,000 mattresses to those in need, the company said.

“We are humbled and invigorated by the extraordinary response Leesa has received in such a short period of time, and we are excited to use this round of funding to broaden our reach to customers and influencers alike as well as expand into the retail category,” said David Wolfe, co-founder and CEO of Leesa.

“As a company that values its impact on the world as much as its financial prosperity, we are also thrilled to be able to use this success to drive toward our audacious goal of ending homelessness,” he said.

In December, Leesa Sleep signed Olympic gold medalist Michael Phelps as a spokesman.

The post Va. luxury mattress maker Leesa Sleep raises money to expand appeared first on WTOP.

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