Denver's Sheets & Giggles has burst onto the local startup scene this past year with its eucalyptus bed sheets and affinity for puns.
The company announced today that it has raised a $1.3 million seed round to help meet production demand for its line of sustainable bed sheets made from eucalyptus trees. Sheets & Giggles, which launched in 2018, is on pace to quadruple sales in its second year.
Rockies Venture Club led the round, bringing Sheets & Giggles’ total funding to approximately $2 million to date. Alpha Bridge Ventures, Fancy's Jack Einhorn, Tilt's James Beshara, Secocha Ventures, Kokopelli Capital, W&T Family, Groundswell Ventures and the partners at Foundry Group (who invested as individuals) also participated in the round.
“It's honestly a dream to reach this stage,” said Founder and CEO Colin McIntosh in a statement. “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.”
The company also included the Candor Clause, an open-source disclosure to promote gender equality in entrepreneurship, in its funding documents. The clause was first created by Denver's soona, a digital content startup.
Sheets & Giggles has hit the ground running since its 2018 launch, winning the Denver Startup Week Pitch Challenge last year before joining the 2019 class of Techstars Boulder.
The company says its sheets are softer and smoother than cotton, breathe better, are less prone to fading and are sustainably grown and knit. A set of queen sheets retails for $137.90 on the company's website and Amazon. Sheets & Giggles' 2018 IndieGoGo campaign was a smash hit, raising more than $250,000 from 2,000-plus backers.
https://www.youtube.com/watch?v=yhWNuD9gViU
Sheets & Giggles will use the funding to grow its team and product offerings, launching a eucalyptus throw blanket later this month.
“It has been incredible to see this type of growth achieved in such a short timespan,” Einhorn said in a statement. “Colin’s keen eye for design, desire to delight the customer and strong affinity for analytics has positioned the company to define and scale this new category of eucalyptus products.”
