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07.24.2017 Firm News

Williams Mullen Helps Leesa Sleep Raise $23 Million through Series B Funding

Press Release from Leesa Sleep:

VIRGINIA BEACH, Va. – July 24, 2017 Leesa Sleep, the leading direct-to-consumer online luxury mattress retailer, today announced the close of a Series B funding, raising $23 million in a round led by One Better Ventures, an investment company led by Seventh Generation CEO John Replogle.

Notable investors include social impact entrepreneurs such as Blake Mycoskie, Founder of TOMS. Replogle will join Leesa as Chairman of the Board alongside Peter Graham who was Chairman of Seventh Generation until its recent sale to Unilever, who will also join the Leesa Sleep Board. The investors included in this round are aligned with Leesa’s social mission – to elevate life with thoughtfully designed and crafted products and to be a force for good in the world, as recognized by Leesa’s certification as a B Corp.

Launched at the beginning of 2015 by e-commerce entrepreneur David Wolfe and mattress industry veteran Jamie Diamonstein, Leesa raised $7 million in its Series A funding in mid-2015 through TitleCard Capital, whose partners include professional athletes and well-known artists such as Adam Levine, Jimmy Kimmel and Kate Hudson. Leesa has delivered triple-digit growth and positive cashflow since its inception and sales are expected to exceed $200 million in the next 12 months.

To continue reading the press release, click here.

Williams Mullen attorneys John Paris and Anne Domozick served as primary counsel to Leesa Sleep for the fundraising round.