Hug Sleep Net Worth: Before and After Shark Tank
The critically praised reality show Shark Tank has now seen over a thousand proposals, and that figure is only going up. Although certain pitches have left a lasting impression, others have faded from memory. Hug Sleep is just one of several who have built enormously profitable companies after suffering through a few catastrophic setbacks. Can you tell me how much Hug Sleep is worth?
What is Hug Sleep?
Angie Kupper and Matt Mundt started Hug Sleep in 2019. They are a married couple. Hug Sleep’s current chief executive officer is Matthew Mundt, who also founded the company. At Foxconn, he held the position of Senior Product Manager prior to this. He attended the Graduate School of Business at Stanford University. As of the year 2024, the founders of Hug Sleep, Angie Kupper and Matt Mundt, are worth four million USD.
The Hug Sleep pod is a flexible, comfortable, and breathable mattress cover comprised of 89% polyester and 11% Lycra.
When used with Deep Touch Therapy, the Hug Sleep Pod—which encases the user like a weighted blanket—can alleviate restlessness and anxiety.
The Sleep Pod is machine-washable, doesn’t slide off, doesn’t trap heat, and is portable and easy to transport thanks to its rollable design. The Sleep Pod mimics the effects of compression rather than real weights.
Who is Hug Sleep Founders Angie Kupper and Matt Mundt?
Matt Mundt had always struggled to get a good night’s rest. A good night’s sleep eluded him. Nothing he tried, including a plethora of weighted blankets, helped him obtain a decent night’s sleep.
One of Angie Kupper’s life’s missions is to alleviate the suffering of people, particularly those who are mentally ill. She is aware of the significance of sleep for one’s emotional and psychological health. The toll that sleep deprivation took on her spouse was plain to see.
In addition to his background in product design, Matt holds a degree in mechanical engineering. He made the decision to address his difficulties using his intelligence. He had Angie’s support since she saw the solution’s potential to help those suffering from anxiety and other mental diseases.
Hug Sleep Sales and Net Worth After Shark Tank
After making an appearance on Shark Tank, Hug Sleep’s sales skyrocketed. The first year following their appearance on Shark Tank, Hug Sleep made $10 million. Ever since then, the firm’s growth rate has averaged 40% per year.
The current monthly income for Hug Sleep is $5 million. You may find this product in more than 60 countries and over 1,000 retail outlets. One of the most lucrative items on shark tank, the business is raking in $1.4 million monthly.
| Net worth | $5 million |
| Annual Sales Revenue | $24 million |
| Profits | $10 million |
| Lifetime sales | Over $15 million |
| Investors | Mark Cuban, Lori Greiner |
| Founders | Angie Kupper and Matt Mundt |
| Employees | 1-10 employees |
Hug Sleep Net Worth Timeline
| Net Worth 2023 | $5 million |
| Net Worth 2022 | $2 million |
| Net worth valuation 2021 after appearing on Shark Tank | $1.5 million |
| Net worth valuation 2021 before appearing on Shark Tank | $1.5 million |
Hug Sleep after Shark Tank
As of 2023, the company’s net value is expected to be $5 million. On top of selling like hotcakes, the original Hug Sleep Pod has an average rating of five stars based on more than a hundred reviews on their website.
The couple’s Hug Sleep Pod sales hit over $25,000 just one day following the airing of the Shark Tank episode. The product generated sales of $2.5 million. The sum increased to $4.1 million following the third month of the business being handled well. The couple was taken aback by the sales, as they had anticipated only 3,000 to 4,000 Hug Sleep Pods sales following their appearance on Shark Tank. Their aim was 25,000, so it was far above. Hug Sleep Pod, a hooded version for kids, was designed and marketed by the same team after its phenomenal success.