SAN FRANCISCO--(BUSINESS WIRE)--Dreem, a neurotechnology company, today announced the closing of a new round of funding, raising $35 million USD to rapidly accelerate product development, invest in strategic research and development, and advance the future of sleep technology. Last year, Dreem introduced a comprehensive solution to address a suite of sleep problems and enhance the quality of rest during the night. The Dreem headband monitors brain activity to track sleep accurately and uses auditory stimulation as a medium to help people fall asleep faster, get deeper sleep, and wake up refreshed.
With the $35 million investment, led by strategic investor JJDC, Dreem will bring next-generation sleep technology to markets across the globe and continue to invest in R&D for future sleep-related scientific discoveries and technological innovations.
“Understanding and improving sleep is one of the most important technological, scientific and societal undertakings of our time. If everyone in the world, of which 30% don’t sleep effectively today, were able to get better, more quality rest every night – we’d unleash opportunity like none other. Our productivity, creativity, humility as a global community could dramatically increase,” said Hugo Mercier, CEO, Dreem. “Our mission at Dreem is to help the world make that happen. We want to become the accessible, universally effective solution for everyone on the planet suffering from a poor sleep quality. And, while this journey is challenging and complex, we have everything we need – incredibly talented people, years of research at our disposal, tenacity and passion, and now a powerful set of new investors – to accelerate our team’s vision of changing lives by helping the world get better, healthier and more effective sleep.”
As Dreem heads into its next phase of development with this funding, the company’s primary objectives include:
- Further developing the Dreem headband to make the product as accessible as possible
- Developing new technological breakthroughs to significantly improve the experience—including making the technology as discreet as possible
- Pursuing our scientific journey to advance sleep research to uncover new methods and approaches that will help people sleep and live better
- Continuing to recruit the brightest talent around the world, making Dreem the best company to work for dedicated to sleep
Dreem previously raised a total of $22 million, from billionaire French entrepreneur Xavier Niel, entrepreneur and biotech investor Dr. Laurent Alexandre, and one of the top French insurance leaders - MAIF. With additional investment from JJDC and Bpifrance, Dreem has raised nearly $60 million in less than four years.
The Dreem Journey:
Creating a Healthier, More Empowered World Fueled by Innovative Technology
Dreem was founded four years ago with a simple idea: make humankind healthier by improving everyone’s sleep through accessible neurotechnology.
Non-effective sleep has the potential to be the crisis of our time. Technology and science have made incredible progress in the past few years, and the mission at Dreem is to deliver solutions on a large scale to help everyone achieve better sleep. We dream of a world where sleep is not a constraint nor the source of anguish and anxiety anymore. This journey will be challenging, long, complex, and we won’t succeed without a strong sleep ecosystem. Everyone - doctors, scientists, institutions, countries, companies, individuals - are necessary to make this global journey successful.
Behind this simple idea, Dreem set course on a long technological journey. Since day one, the team of innovators, scientists and researchers drove towards the vision of bringing a valuable sleep solution to the world, by extending the measurement and analysis of the brain’s activity to everyone’s bedroom. To be able to conceive of a system that can measure EEG accurately with dry sensors, automatically and autonomously detect specific patterns in the brain activity, Dreem had to build everything from scratch, and make significant innovations in several technological and scientific fields.
Today, four years later, the team has grown to 70 incredible people working daily with thousands of our users, to draw from incredibly rich and novel (anonymized) data. The entire team is happy and proud to see the thousands of cases of bad sleep that we have been able to solve, and all the nice testimonies and messages from users. We’re also excited to continue to grow our team, and plan to increase our workforce by nearly 30 percent by the end of the year. Today’s investment marks another milestone for Dreem, and further opportunity for solving the world’s sleep crisis.
Now Dreem’s focus is on understanding how to continue to improve the user experience. Thanks to incredible work from a relentless team, Dreem looks forward to the hard work ahead to continue bringing the vision of better sleep to life – and doing our part to make the world a healthier, better place.
Dreem pioneers technological and scientific advances to develop effective products that help people be better at sleep, and realise a more fulfilled version of themselves. The Dreem band is a holistic sleep solution designed with real human behaviour first, and supported by a global community of sleep experts. Based in Paris and San Francisco, Dreem has raised substantial funding from investors, awards and government grants to support a world-class team of more than 70 people. Dreem is on its way to help the world’s population in its quest to solve one of the biggest health and societal problem of our modern times. For more information, visit www.dreem.com.