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The news comes hours after we published that the New York startup was reportedly looking for underwriters to pen a potential initial public offering (IPO).

The new capital comes from existing investors , and , as well as several new investors, including Dani Reiss, chairman and CEO of Canadian, outwear maker and retailer , and , founder and former chairman of . The latest raise takes Casper’s total funding raised to nearly $ since its inception in 2013.

Casper has also added , former s CEO, and Reiss to its board of directors.

The company did not comment on the IPO rumors but in a press release said it was planning to use the funding toward scaling its retail fleet, wholesale distribution and e-commerce channels. Casper told me via email it plans to “invest in R&D… for future product innovation.” It added that its revenue in 2018 topped $400 million, compared to a reported $600 million from its launch date in April 2014 through the end of 2017.��

Interestingly, Casper said it has grown revenue by $100 million every year since launching. Specifically, it earned $100 million in revenue in 2015—its first full year of operating. It then doubled that in 2016 with $200 million in revenue, and then $300 million in 2017. The company currently has 500 employees, compared to 400 last July.

Casper started out selling its mattresses online before opening its own brick-and-mortar “Sleep Shops” across North America last year. Its products also sell at retailers such as Target and Hudson’s Bay.

For more details on Casper and the mattress industry as a whole, check out our coverage from this morning and last July.

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This story was updated post-publication to include revenue figures provided by the company.

According to Crunchbase, the New York-based startup neared unicorn status with a $920 million valuation set during .

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Five-year-old Casper is a well-known leader in the market, with investors like , (IVP) and (NEA). Actors and , rapper, and NBA player have also backed the startup, according to its Crunchbase .

Casper is one of those rare startups that actually shares financial information, with reported revenue of more than $600 million from its launch in 2014 through the end of 2017. (We’ve reached out for updated numbers and will include those in this article if/when we get them.)

In July 2018, Casper CEO and co-founder told Crunchbase News he believed his then-400-person startup had “just scratched the surface in terms of sleep product innovation.” It has evolved from its initial direct-to-consumer model to also selling its products such as Target, Nordstrom, and Amazon in an effort to reach a wider market.

Trailing behind Casper’s, other companies in the mattress space that have raised venture capital include London’s ($82.3 million) and Virginia Beach, Va.-based ($32 million).

The chart below shows venture funding raised by companies that use the word “mattress” or “mattresses” in their short descriptions in Crunchbase. (For example, Casper’s one-liner is “Casper is a global sleep company that launched in 2014 offering perfect mattresses directly to consumers.”) Companies which make or market mattresses but don’t use that keyword in their descriptions weren’t counted.

To some, news the mattress industry is well, awake and lucrative might be surprising. Customers are leaning toward a more customized, personal experience, whether it’s with Casper, or other new startups like those mentioned above.

Apparently it’s working. As we reported back in July, of the $15 billion mattress market, online sales of mattresses reportedly doubled from 5 percent in 2016 to 10 percent in 2017.��

Still, it’s notable that after a whopping ten-fold jump in venture investing in mattress startups from 2016 ($25.7 million) to 2017 ($257.3 million), funding slid sharply to just $15.6 million in 2018.  Of course, Casper’s $170 million Series C in 2017 was a big factor behind the rise that year.

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This story was updated post-publication to include more accurate revenue figures based on company feedback.