Hug Sleep Pods, based in Brookfield, Wisconsin, manufactures innovative sleep pods designed with the principles of deep touch therapy in mind. The patented design aims to enhance sleep quality by providing a comforting and secure environment.
Key features of the Sleep Pod include:
- Lightweight and Breathable Material: Made from a 4-way stretch fabric, the pod is designed for maximum comfort.
- Body-Fitting Design: The Sleep Pod conforms to the user’s body, ensuring no discomfort during sleep.
- Versatile Sleeping Positions: Users can sleep in any position without experiencing discomfort.
The Sleep Pod is particularly beneficial for individuals dealing with sensory disorders, anxiety, and stress, offering a soothing solution for a better night’s sleep.
| Company Name | Hug Sleep |
| Founder | Angie Kupper And Matt Mundt |
| Founded | 2018 |
| Product | Stretch Fabric, Adult Swaddle-Like, Blanket That Provides A Comforting Sleep |
| Asked For | $150k For 10% Equity |
| Final Deal | $300k For 20% Equity |
| Shark | Mark Cuban And Lori Greiner |
| Episode (Shark Tank USA) | S12 E3 |
| Air Date | Oct 30, 2020 |
| Business Status | In Business |
| Website | Visit Website |
| Headquarters | Buffalo, New York, United States |
| Lifetime Worth (Sales) | $7.2M *estimated |
| Go To Amazon | Buy Now |
| Watch On | Amazon Prime |
Who Is The Founder Of Hug Sleep?
Hug Sleep was founded by husband and wife duo Angie Kupper and Matt Mundt, who, despite their different backgrounds, share a common goal: to help people achieve better sleep.
Angie’s motivation stems from a personal tragedy; after her mother committed suicide, she dedicated herself to helping others overcome mental health challenges. With a master’s degree in psychology and a decade of experience in mental health care, Angie recognized the critical role that sleep plays in both physical and mental well-being. This insight inspired her to create the Hug Sleep product.
Matt, a mechanical engineer with extensive experience in product design, also sought to address sleep-related issues. Together, they combined their expertise to develop a product aimed at improving sleep quality and overall wellness.
Did Hug Sleep Get a Deal on Shark Tank?
Angie Kupper and Matt Mundt, the founders of Hug Sleep, delivered a compelling presentation on Shark Tank, highlighting the significance of their product and sharing a poignant personal story. They sought an investment of $150,000 in exchange for 10% equity in their company.
Impressed by the potential of their sleep solution and its positive impact on people’s lives, investors Mark Cuban and Lori Greiner engaged in a thoughtful discussion regarding the company’s sales performance. After considering the strong sales figures and the product’s ability to address a real need, they decided to invest $300,000 for a 20% equity stake in Hug Sleep.
| Mark Cuban | $150,000 for 10% Equity |
| Lori Greiner | $150,000 for 10% Equity |
| Two Shark | $300,000 for Eatch 20% Equity |
| Company Valuation | $1,500,000 *Approx |
What Happened To Hug Sleep After Shark Tank?
AFollowing their appearance on Shark Tank, Hug Sleep experienced a remarkable surge in sales, doubling their revenue compared to the previous year. The founders reported that this increase was a positive indicator for the business’s growth trajectory.
The exposure from the show provided invaluable marketing, effectively promoting the product on national television. This resulted in a significant influx of visitors to their website, with 10% of those visitors placing orders on the same day.
The funding secured from the Sharks was strategically allocated toward manufacturing and marketing efforts, which contributed to the business’s revitalization and overall success.
What Is The Hug Sleep Net Worth?
After securing investment from Shark Tank, Hug Sleep’s net worth was valued at approximately $1.5 million. Following the boost in sales resulting from their appearance on the show, the company’s valuation significantly increased.
It is speculated that their current net worth could be around $4 million, reflecting the positive trajectory of their business.
As of now, there is no available information regarding the individual net worth of the founders, Angie Kupper and Matt Mundt.
