“Can a DTC mattress brand build a durable omnichannel sleep products business strong enough to justify premium pricing without a sustainable path to profitability?”
Founded in 2014 as a pure-play DTC e-commerce mattress brand, Casper disrupted the traditional mattress retail model by selling direct online and compressing product into a box for easy shipping. It expanded into physical retail starting around 2017-2018, partnering with Adyen for omnichannel POS, and offered BNPL via Affirm to improve conversion on high-ticket purchases. After a rocky 2020 IPO and subsequent delisting in 2022, Casper was acquired by Carpenter Co. in 2024, transitioning from a venture-backed brand to a subsidiary of a materials manufacturer.
Casper processes payments through Adyen.
Casper's lending and capital products are provided by Affirm.
The Embedded Finance Index 2026 maps 2 layers in Casper's stack: Payments / PSP (Adyen); Lending (Affirm and Buy Now Pay Later (Affirm)).
Casper was founded by Philip Krim, Neil Parikh, T. Luke Sherwin, Jeff Chapin and Gabe Flateman and is founded in 2014, headquartered in New York City, New York, USA.
Casper has raised ~$340M+ in total (latest round: Acquired by Carpenter Co., 2024; valuation: $1.1B (2019, at Series D)).
Get a read on where your own stack stands against Casper and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.