Resident wins sales, profitability, and $130M in new funding Resident sees $12.5M in new funding Nectar parent rebrands as Resident
Overview
Resident (residenthome.com) is an industry-leader in the Direct-to-Consumer mattress and home furnishings category. Since the founding of the award-winning Nectar Sleep in 2016 (with over 1 million happy sleepers and counting), they have also launched the Dreamcloud, Awara and Level Sleep brands to cater to a variety of sleep preferences. Their mission is simple... they strive to make inspiring products people love coming home to (and to help everyone afford a great night's sleep)! At its core, Resident Home is built around the ability to continuously introduce new customers to their products, and wow them with exceptional experiences through the shopping and post purchase journey. The company is headquartered in San Francisco with a dedicated New York City office and an R&D facility in Tel Aviv. Yet, at the heart of the company is the belief in building a team using the best talent possible, no matter where they reside. From 15 cities across 5 countries, Resident has a diversified virtual workforce of more than 200 employees.
Investment Rationale
After connecting with the Resident Team, we were immediately impressed by the company’s exceptional growth and unique approach to performance marketing. After leaning in and getting to know the team, 645 was excited to partner with Resident in 2018.