Hug Sleep is a company that has completely transformed how people relax and get better sleep. Their flagship product, the Sleep Pod, is designed to mimic the soothing feeling of a hug. After appearing on Shark Tank, the company shot to fame, and it’s now worth millions. But how did they get there, and what’s their story? Let’s break it down.
Quick Facts About Hug Sleep
| Aspect | Details |
|---|---|
| Founders | Matt Mundt (Mechanical Engineer) and Angie Kupper (Therapist) |
| Founded | 2019 |
| Flagship Product | Sleep Pod |
| Shark Tank Appearance | October 2020 |
| Shark Tank Deal | $300,000 for 20% equity with Mark Cuban and Lori Greiner |
| Initial Valuation | Approximately $1.5 million |
| Net Worth (2023) | Estimated at $5 million |
| Lifetime Sales (2024) | Over $25 million |
| Units Sold | Over 250,000 |
| Product Line Expansion | Sleep Pod Move, Hooded Sleep Pod Move, Sleep Pod for Kids |
Meet the Founders: Matt Mundt and Angie Kupper
Hug Sleep was founded by Matt Mundt and Angie Kupper, a husband-and-wife duo who had a shared goal of helping people sleep better. Matt, a mechanical engineer, and Angie, a certified therapist, combined their skills to create the Sleep Pod. Their inspiration? Weighted blankets, but with a twist—something portable, affordable, and easier to use. And so, the Sleep Pod was born.
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Hug Sleep Pitch on Shark Tank?
In October 2020, Matt and Angie took their innovative Sleep Pod to Shark Tank. They walked into the tank asking for $150,000 in exchange for 10% equity.
The sharks were impressed by their unique product and, more importantly, their sales figures. Mark Cuban and Lori Greiner teamed up to offer them $300,000 for 20% equity, and the founders accepted the deal.
After the episode aired, Hug Sleep’s sales exploded. They pulled in $4 million within weeks, and the company hasn’t looked back since.
| Aspect | Details |
|---|---|
| Pitch Date | October 2020 |
| Founders | Matt Mundt and Angie Kupper |
| Asked For | $150,000 for 10% equity |
| Deal Secured | $300,000 for 20% equity |
| Sharks Involved | Mark Cuban and Lori Greiner |
| Post-Show Success | $4 million in sales within weeks |
What Makes Hug Sleep So Successful?
- Innovative Product: The Sleep Pod reimagines the concept of weighted blankets with a sleeker, more modern design.
- Smart Partnerships: Partnering with Mark Cuban and Lori Greiner gave the company exposure, resources, and credibility.
- Focus on Customers: The product solves real problems—better sleep and reduced anxiety—all at an affordable price.
How Hug Sleep is Doing After Shark Tank
Since their Shark Tank debut, Hug Sleep has grown tremendously. By 2024, the company had sold over 250,000 Sleep Pods and brought in more than $25 million in lifetime sales.
The company didn’t stop with just one product. They introduced variations like the Sleep Pod Move, which allows for more movement during sleep, and the Hooded Sleep Pod Move, offering extra coziness. They also launched a version for kids, ensuring their products could benefit families as well.
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