Leesa Sleep was founded with the simple goal of helping people sleep better. Fast forward a little less than three years and Leesa is one of the fastest growing companies in America. Over the past few months, Leesa has been announced as the exclusive mattress of West Elm and named one of 25 companies on Forbes 2017 list of Next Billion Dollar Startups.
As a registered B-Corp, Leesa uses business as a force for good. In July, Leesa raised $23 million in Series B funding. Notable investors included Seventh Generation CEO John Replogle and TOMS shoes founder Blake Mycoskie, both supportive of Leesa’s philanthropic approach to the mattress industry. Replogle, who shares the company’s focus on human health and well-being, also joined Leesa as chairman of the board. Leesa’s industry-leading social impact program is the heart and soul of the company; through its One-Ten program, Leesa has donated one mattress for every ten sold to nonprofits that serve people seeking refuge from homelessness, domestic risk, and human trafficking since its launch in 2015. To-date, Leesa has donated over 22,000 mattresses. Even after so much corporate success and social impact, things seem to be just heating up for Leesa. This is a company to keep on your radar of great growth and even greater values.
“So how did they do it?” would be the question any curious, entrepreneurially-minded Harvard student would ask. Startups are the hot topic on campuses across the country, and everyone wants to know what makes an idea move from the café or classroom to the big leagues.
Harvard Students interested in startups could learn a thing or two about entrepreneurship from the Leesa story.
There is no doubt that the innovation of offering extremely comfortable mattresses without the annoying in-store experience is a critical component of Leesa Sleep’s success, but there is a deeper set of values which have elevated Leesa to its esteemed position in the market and have attracted an enthusiastic following of mattress aficionados, celebrities, and people who understand the importance of a good night’s sleep. World champion athletes Michael Phelps and Aly Raisman choose to endorse Leesa as brand ambassadors because they appreciate that Leesa’s dedication to quality and comfort allows them to feel their best and compete at the highest level.
Students also need rest to perform in the classroom, on the field, and on the stage. Leesa is not only dedicated to helping world-class athletes achieve peak performance, but also to helping students, artists, musicians, and people in the workplace be their best every day. A better night’s sleep is crucial in a society that is more fast-paced than ever, which is why Leesa creates a mattress retail experience that emphasizes buying a mattress as a healthy lifestyle choice rather than a chore.
David Wolfe, CEO and co-founder of Leesa Sleep, emphasized these deeper driving forces behind Leesa Sleep’s explosive success this past weekend in his keynote speech at Harvard Business School’s 2017 Marketing Innovation Conference. David describes Leesa Sleep as a combination of a great idea, strong management, a world-class product, and the best business model he has ever worked with.
Wolfe shows the shared passion of great entrepreneurs, for bringing novel ideas to life and disrupting the traditional ways of doing things.
The Leesa business model is truly remarkable. Leesa will ship you a box with a mattress compressed inside. The mattresses are exceptionally comfortable and adapt to any body shape or sleep style. The Leesa mattress is engineered with three premium foams and the Sapira mattress combines these foam layers with pocket-spring coils for even more support. Besides these incredible mattresses, Leesa also sells pillows, blankets, and bed frames designed to create the best sleep experience possible. You would expect these expertly engineered products to translate to skyrocketed prices, yet Leesa’s prices are very reasonable. The simplicity of the company of about 70 employees, the direct-ship strategy, and the innovative material alterations allow for incredibly attractive prices.
Not only is Leesa a great option for students looking for an affordable luxury mattress, but it is also an inspiring company to follow that shows that it pays off to dream big. Leesa Sleep continues to set the most ambitious goals for its future such as ending bedlessness in North America through its One-Ten program. In 2016, Leesa opened the world’s first combined art gallery and mattress store so next time you are in New York City, make sure to check out Leesa Dream Gallery in Manhattan at 112 Wooster Street in SoHo. Leesa mattresses are also at West Elm stores across the country, in the new IRL store at Water Tower Place in Chicago, and on the Leesa website of course where you can get a mattress shipped right to your door at https://www.leesa.com/.
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