London-based online mattress retailer eve Sleep has received £6.9m in further funding from its previous private investors, as well as Channel 4’s Commercial Growth Fund.
The new ‘transformational’ Series B cash injection takes eve’s total funding to £10m, following earlier investment of a £2.5m Series A round and a £600,000 funding round last year.
Octopus Ventures and DN Capital have continued to back the company, alongside its newest investor, Channel 4’s Commercial Growth Fund, as it plans to launch an advertising initiative on the broadcast platform. Under the terms of the deal, eve Sleep will appear on UK screens by exchanging equity stakes or striking revenue share arrangements.
Founded in February 2015 by entrepreneurs Jas Bagniewski, Kuba Wieczorek, Felix Lobkowicz and James Fryer, the owners now forecast turnover in excess of £17m in 2016.
Jas Bagniewski, CEO and co-founder of eve Sleep said: “Since launching in February 2015, business has been incredible as consumers and investors embrace and continue to back our brand as much as we do. We are seeing 25% growth month-on-month.
“We are delighted to welcome Channel 4 to our investment portfolio. Their backing, alongside Octopus Ventures and DN Capital, is proving transformational for eve Sleep and will allow us to continue our ambitious expansion plans both around across the UK and internationally.”
Vinay Solanki, head of Channel 4’s Commercial Growth Fund, said: “Our investment in eve Sleep’s first ever TV ad campaign will support them in accessing the powerful medium of TV advertising to help consolidate eve Sleep’s brand position in this rapidly emerging segment.”