Casper’s Latest Funding Shows Direct-to-Consumer Hype Isn't Dying Down Anytime Soon

The DTC brand has been the subject of IPO rumors

This week, direct-to-consumer mattress brand Casper reached unicorn status (with a valuation of $1.1 billion) with a $100 million round of funding, making it the third DTC brand this month to do so. The investment is going toward more brick-and-mortar stores—the company currently has 23 stores—and expanding internationally, particularly in Asia, Bloomberg reported. According to a statement from the company, Casper reached $400 million in revenue in 2018. The funding news came a day after Reuters reported that Casper was reportedly looking for underwriters for an IPO.