Casper is joining Glossier and Rent the Runway as the latest digital native retailer to be valued at $1 billion, on the heels of a new $100 million Series D funding round. With the cash infusion, Casper is now valued at $1.1 billion, and seeks to use the funding to scale its global expansion efforts across brick-and-mortar, e-Commerce and wholesale.
The funding and valuation come as Casper is seeking to hire underwriters for an IPO, according to Reuters.
Existing investors Target, New Enterprise Associates, IVP and Norwest Venture Partners led the round. Casper’s total funding to date has reached $340 million. Target had led Casper’s $170 million Series C funding in June 2017, reportedly pitching in $75 million. Prior to that investment, Target reportedly offered to buy Casper for $1 billion.