Craig Schmeizer, Eric Hutchinson, and Ran Reske believed that the market was ready for a new type of mattress, and founded Nectar in 2017 with no venture capital.
In the first year, the company sold more than 50,000 mattresses, generating $35 million in revenue.
Schmeizer believes that most people only buy a mattress once their old one completely breaks down or it causes them pain because they believe mattresses are very expensive.
Using layers of memory foam, Nectar mattresses provide the support people need but at a very reasonable cost.
The company also sells pillows, bed frames, mattress protectors, and weighted blankets.
The company also offers the military a 15% discount on their products.
Nectar Sleep maintains a corporate office in Palo Alto, California.
