The battle to be the master of the mattress startups is hotting up.
If you missed this news, you must have been sleeping on the job – new mattress, perhaps?
Simba Sleep, a “high tech mattress retailer” founded in 2015 by James Cox, Steve Reid and the McClements family, has just completed a £9m venture funding round, to bring its total amount raised to $22.41m dollars.
The company, based in Mayfair, say they plan to expand into 34 countries within the next 18 months. They are already in France, Germany, The Netherlands, Ireland the US and the Middle East.
Their marketing department have been busy too – the startup launched “the UK’s first ever billboard” in Shoreditch this week to promote their range of “Alphabet” pillows ahead of Valentine’s Day.
Says founder James Cox; “Our expansion may seem fast, but we’re doing things in a very measured way. The retail deals in Europe are replicating the successful model we executed with John Lewis in the UK.”
And Simba will need to stay agile, as believe it or not, the “disruptive mattress industry” is estimated to be worth £1 billion pounds. Rivals in the space include Eve Mattresses, who have also produced their own innovative ad campaigns with the help of AI-driven content marketing agency Codec, and US brand Casper.
With early backing from Innocent Drinks founder Richard Reed’s JamJar Investments, Sir John Hegarty and Spark Ventures, Simba’s latest round was led by Henderson Global Investors, with an impressive list of angel investors, including Michel de Carvalho, head of Citi’s investment banking division, Richard Goldstein, who’s family founded Superdrug, and Saracens rugby club chairman Nigel Wray, also joining the round.
It’s enough to give the startups rivals sleepless nights. Simba Sleep are calling their product “the most advanced mattress in the world”, with 2,500 “patented conical pocket springs” which move horizontally and vertically to fit the shape of your body.
Simba say they worked with the Sleep To Live institute, who have profiled more than 10m sleepers.
Yours for just £399. The firm are also offering a 100 night’s sleep free trial.