June 26--Three Hollywood stars and Chicago's Pritzker Group Venture Capital are among investors in a $55 million funding round for online mattress seller Casper.
The financing was led by California-based Institutional Venture Partners, and, besides Pritzker Group, includes celebrities Leonardo DiCaprio, Tobey Maguire and Adam Levine.
Casper mattresses ship free via UPS or bike messenger in a mini fridge-size box directly to consumers, eliminating commission-driven prices.
"Like our investments in The Honest Co. and Dollar Shave Club, Casper is growing at an astonishing rate because it is revolutionizing its industry with a direct-to-consumer model, lowering costs and raising quality for its customers," J.B. Pritzker, managing partner for Pritzker Group Venture Capital, said in a statement.
According to Casper's website, prices of the mattresses, which unite memory and latex foams, range from $500 to $950. Mattress covers are hand-sewn in South Carolina and Illinois, according to the website of New York-based Casper.
Seven existing Casper investors, including New Enterprise Associates, Lerer Hippeau Ventures and Norwest Venture Partners, also participated in the round.
In June 2014, Casper announced $13.1 million in funding. It launched in April 2014.
byerak@tribpub.com
