Casper Sleep Inc.

Casper Sleep Inc.

Casper Sleep Inc. was co-founded in 2014 by Philip Krim, Neil Parikh, T. Luke Sherwin, Gabe Flateman, and Jeff Chapin. The idea was to sell a single mattress model directly to consumers online, bypassing traditional showrooms and costly retail markups. Wealth origin was venture-backed—initial investors included New Enterprise Associates (NEA), Lerer Hippeau, and celebrities such as Leonardo DiCaprio and Ashton Kutcher. The company now offers a lineup of five mattress models—The One, Cloud One, Dream, Snow, Dream Max, and Snow Max—plus pillows, bedding, and frames. Its product strategy blends foam and hybrid designs with Zoned Support technology and cooling features. Casper sells through its website, third-party retailers such as Target and Amazon, and its own Casper Sleep Shops. Geographically, Casper serves customers in the United States and Canada, with a distribution network based in its operational hubs including New York, Jersey City, and Peoria. Casper employed approximately 300 people as of its last public filings. The firm maintains corporate offices in Menlo Park, Jersey City, New York, Chicago, Santa Monica, and a warehouse in Peoria. In November 2021, Casper was acquired by Durational Capital Management in a deal valued at roughly $286 million, taking the company private after less than two years as a public entity. What distinguishes Casper structurally is its hybrid operating model—part direct-to-consumer e-commerce, part physical retail—combined with a product line engineered around consumer feedback and administered by a centralized corporate entity. The firm owns its intellectual property, consumer data, and fulfillment infrastructure, allowing margin control. Its post-public, private ownership structure under Durational Capital Management signals a long-term build strategy rather than an immediate exit.