DENVER--(BUSINESS WIRE)--Sheets & Giggles™, one of the fastest-growing bedding brands in the US, today announced a $1.3M seed round to help meet production demand for its line of sustainable lyocell bed sheets made from eucalyptus trees. The funding will enable Sheets & Giggles (“S&G”) to meet stronger-than-expected demand for the one-year-old bedding retailer, which is on pace to quadruple sales in its second year.
Rockies Venture Club is leading the round, bringing S&G's total funding to approximately $2M since its launch in 2018. Also participating in the round were Alpha Bridge Ventures, Fancy founder Jack Einhorn, Tilt Founder James Beshara, Secocha Ventures, Kokopelli Capital, W&T Family, Groundswell Ventures, and the partners at Foundry Group (who invested as individuals). The company is also proud to become the first male-founded startup to include in its funding documents the Candor Clause, an open-source disclosure to promote gender equality in entrepreneurship.
“It's honestly a dream to reach this stage,” said Colin McIntosh, Founder & CEO of S&G. “Believe me, it's not easy to get investors to take you seriously when you're pitching a bedding brand based on a pun, but luckily the market's reception to our sheets allowed our investors to do their due diligence in their sleep. We love reading our customers' glowing and often hilarious reviews – our community is hands down the most fun community in the sheet space – and we look forward to watching eucalyptus become as widely known as bamboo or cotton.”
In addition to expanding production and growing its Denver-based team, the funding will allow S&G to accelerate the rollout of new textile categories to an existing product line that has received a 5-star review on Amazon from nearly 90 percent of customers, topping customer satisfaction ratings from more expensive and established brands such as Boll & Branch and Brooklinen. Launching later this month, first up will be an ultra-soft eucalyptus throw blanket, creating another sustainable and affordable option for customers who are tired of putting up with the same old sheet from other retailers.
“It has been incredible to see this type of growth achieved in such a short timespan,” Fancy founder Jack Einhorn said. “Colin’s keen eye for design, desire to delight the customer, and strong affinity for analytics have positioned the company to define and scale this new category of eucalyptus products.”
Funding comes on the heels of an aggressive inaugural year for the company, which finished first in the Denver Startup Week 2018 Pitch Challenge before joining the 2019 class of Techstars Boulder. S&G has doubled its revenue quarter over quarter so far in 2019, and the company recently received enormous brand exposure on July 17, when it was featured on Amazon.com’s homepage as the Deal of the Day.
S&G’s eucalyptus sheets are manufactured via a lyocell process. They have higher softness and smoothness ratings than cotton, breathe better, are less prone to fade even after repeated washing, and are sustainably grown and knit. S&G’s bedding also manages and evaporates moisture better than cotton, promoting an anti-microbial environment that will help keep sheets fresh and clean. Plus, every S&G sheet set conserves up to an estimated five years' worth of the average person's drinking water compared to cotton sheets, and the company plants a new tree for every single order.
About Sheets & Giggles, Inc.
At Sheets & Giggles™, we're passionate about two things: puns, and sleeping. We're here to have fun, and we're happy you're here with us. Anything we create of value – like products that surprise and delight, sustainably made fabrics, and charitable donations of bedding to the homeless – is completely incidental to having a good time.