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How a Mattress Startup Raises $13 Million: Dreamy First-Year Sales

Casper, a New York City-based company that designs its own line of mattresses and sells them online, has raised a $13.1 million Series A investment from NEA, SV Angel, Lerer Hippeau Ventures, Consigliere Brand Capital and several others. Casper, which just launched in April, is on track to generate $15 million in first-year revenue, based on its first three months of sales, according to a source close to the company. NEA’s Tony Florence and Lerer Hippeau Ventures’ Ben Lerer will join the board.

This article originally appeared on Recode.net.