Where is Hug Sleep Now after Appearing on Shark Tank?

You might probably know Hug Sleep from Shark Tank or you are even using one of their products. Hug Sleep is a company created by a husband and wife duo intended to simulate the feeling of being hugged and cuddled while sleeping.

They appeared in Shark Tank in 2020 Season 12 Episode 1203, and after their episode aired, they received massive sales thanks to their appearance on the show.

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Hug Sleep Backstory

So, how was Hug Sleep born? The company co-founders Matt Mundt and Angie Kupper came up with the idea in January 2018.

Matt has a degree in Mechanical Engineering and has been struggling with sleep issues ever since he was in college. Since he spends most of his career designing products he came up with the idea of an adult swaddle which is light compared to weighted blankets.┬

Angie Kupper has a Masters’s Degree in Community Psychology. She has a passion for helping others as she has been working in mental healthcare for over a decade.┬

Her mother passed away to suicide when she was a teenager and she vowed to help others with their mental and physical wellness. When her husband came to her with the idea, she fully supported him knowing very well how sleep is important for anyone’s well-being.

Months after pitching the idea, Matt and Angie Launched Hug Sleep in February 2019. Their company was a success as they were already making profits within their first year of sales.

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Hug Sleep on Shark Tank

Matt Mundt and Angie Kupper appeared on Shark Tank in October 2020. They pitched their idea in front of investors Lori Greiner, Robert Herjavec, Daymond John, Kevin O’Leary, and Mark Cuban.┬

Their idea immediately wowed the investors as all of them wanted to be part of their company. Matt and Angie initially wanted $150 k in exchange of 10% ownership of their company.┬

They ended up choosing Mark Cuban and Lori Greiner who offered $300 k in exchange of 20%.┬

Soon after the episode aired, Hug Sleep reportedly had $4 million in sales.

Where is Hug Sleep Now?

Since its launch in 2019, Hug Sleep has been able to gain massive success. Apart from their sleep pods, Hug Sleep now has  Sleep Pod Move to allow for feet to be free and a hooded Sleep Pod Move to provide extra warmth for the head.

They also launched loungewear including soft hoodies and joggers in women’s and men’s, and Sleep Pod Move for kids.

According to their reviews, their customers are really loving the idea of an adult swaddle. They have a five-star rating from most of their reviews.

Hug Sleep
Different types of Sleep Pod available

Hug Sleep Net Worth and Sales in 2023

Hug Sleep’s networth is currently not known, however, it is estimated to be worth between $3 million and $20 million as of 2023.┬

Two years after they appeared on Shark Tank, their sales increased to $15 million.┬

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