Direct-to-consumer bedding startup Brooklinen raised $50 million in a new round of funding, the company announced Tuesday.
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The fresh cash brings the company’s total funding to more than $60 million, according to Crunchbase data. The new round came from Summit Partners, which has invested in companies like Immersive Labs and ProGlove.
Brooklinen was founded in 2014 by husband and wife team Rich and Vicki Fulop. The company is profitable and sells home goods like sheets, pillows, towels, robes and loungewear.
“Brooklinen’s profitability, customer repeat rate, and consistently smart and deliberate growth decisions make them a rare brand to partner with,” Summit Partners managing director Chris Dean said in a statement. “Many brands focus on a growth-at-all-costs model that we believe isn’t sustainable for longevity; we are thrilled to find a like-minded partner and to work together on the next stage of growth for Brooklinen.”
More direct-to-consumer sleep and home product companies have popped up in recent years, though with varying results. Most recently, mattress company Casper attracted more than $339 million in funding but had a lackluster public debut.
With the new round, Brooklinen plans to expand its physical retail presence and grow domestically and internationally, according to the statement. Brooklinen is based in Brooklyn and opened its first permanent store in the neighborhood of Williamsburg last year.
Illustration Credit: Li-Anne Dias