Forbes has reported that Eight Sleep raised $40 million in a growth funding round, bringing their total funding to $65 million. The round was led by Founders Fund and included funding by Khosla Ventures, Y Combinator, Craft Ventures, 8VC, Ryan Petersen, and Kevin Hartz. The company plans to invest in research and development, along with expanding their workforce from 50 employees to 100 employees. 

The company’s flagship product is “the Pod”, which features a heating and cooling system. Eight Sleep has plans to launch a scientific trial with Stanford University to determine the effects of temperature regulation on sleep using Eight Sleep products. The company is currently conducting studies with Mount Sinai and UCSF.

Eight Sleep has 24 documents in the Consumer Sleep Technology sector, with 11 of those documents focused on temperature. Eight Sleep faces competition in the sector from traditional mattress companies, such as Sleep Number, as well as companies with temperature regulation devices, including Chili (makers of the ChiliPAD and OOLER) and BedJet.