Sleep issues are a common struggle for many people. Whether it’s due to stress, anxiety, or simply an inability to relax, getting a good night’s sleep can be challenging. Traditional solutions like sleeping pills or weighted blankets don’t always work for everyone. Recognizing this widespread problem, entrepreneurs Angie Kupper and Matt Mundt developed a unique solution: a swaddle-like blanket designed for adults.
Their product, Hug Sleep, aims to provide the calming sensation of being hugged, promoting better sleep without the need for medication.
In Season 12 of Shark Tank, Angie and Matt presented their innovative Sleep Pod to the Sharks, seeking an investment to help scale their business. They asked for $150,000 in exchange for 10% equity in their company. The Sharks were intrigued by the concept and the potential market for such a product.
After some discussion and negotiation, Mark Cuban and Lori Greiner offered $300,000 for a 20% stake in Hug Sleep. Angie and Matt accepted the deal, setting the stage for significant growth and development of their company.
Hug Sleep Net Worth Shark Tank Update 2025
Angie and Matt were looking for an investment of $150k in exchange for 10% equity in the company. At the time of the episode, they valued their company at $1.5 million. Angie and Matt successfully secured a deal with Mark and Lori for an investment of $300k for 20% equity in the company. The investment adjusted the company’s net worth to around $1.5 million. After the show was aired, the company experienced a good boost in exposure. As per my rough estimate, the current net worth of Hug Sleep is around $5 million.
Angie Kupper and Matt Mundt Backstory + Their Initial Pitch
Angie Kupper and Matt Mundt, a husband-and-wife team, were inspired to create Hug Sleep due to personal experiences with anxiety and sleep disturbances. They discovered that gentle pressure could have a calming effect, similar to the sensation of being hugged. This led them to develop the Sleep Pod, a wearable blanket that provides gentle, even pressure to the body, promoting relaxation and better sleep.
Starting with just $2,500, Angie and Matt bootstrapped their business, focusing on creating a high-quality product that could help others facing similar sleep challenges. Their dedication paid off, as they achieved $490,000 in sales within 16 months prior to appearing on Shark Tank. Their pitch on the show highlighted the unique benefits of the Sleep Pod, including its breathable, four-way stretch material and its ability to accommodate various sleeping positions.
Queries + Shark’s Responses, and Final Deal
During their pitch, the Sharks had several questions about the product and the business. Robert Herjavec tried on the Sleep Pod to experience it firsthand but accidentally fell, resulting in a minor injury. Despite this mishap, he acknowledged the comfort of the product. Lori Greiner also tried it and appreciated its soothing effect.
The Sharks were impressed by the company’s sales figures and the potential market for the Sleep Pod.
Kevin O’Leary, Daymond John, and Robert Herjavec teamed up to offer $300,000 for 20% equity.
Simultaneously, Mark Cuban and Lori Greiner made the same offer. After considering both offers, Angie and Matt chose to partner with Mark and Lori, believing their combined expertise would best support Hug Sleep’s growth.
Product Availability
The Sleep Pod is a wearable blanket designed to provide gentle, calming pressure to the body, simulating the feeling of being hugged. Made from a soft, breathable, four-way stretch material, it accommodates various sleeping positions and helps reduce anxiety, promoting better sleep. Since its appearance on Shark Tank, Hug Sleep has expanded its product line to include a hooded version and a Sleep Pod for kids.
These products are available for purchase on the Hug Sleep website, Amazon, and various other retailers. Prices range from $74.99 to $99.99, depending on the model and features.
What Happened To The Hug Sleep After Shark Tank?
Following their appearance on Shark Tank, Hug Sleep experienced a significant surge in sales. Within 24 hours of the episode airing, they sold over 25,000 units, generating $2.5 million in revenue. Three months later, sales had reached $4.1 million.
The company continued to grow, expanding its product line and improving its manufacturing capabilities. Today, Hug Sleep has achieved over $15 million in sales and is valued at approximately $5 million. The founders attribute their success to the exposure of Shark Tank and the support of their investors, Mark Cuban and Lori Greiner.
Hug Sleep’s journey from a small startup to a multimillion-dollar company is a testament to the power of innovation and perseverance. By addressing a common problem with a unique solution, Angie Kupper and Matt Mundt created a product that resonates with many people seeking better sleep.
Their successful pitch on Shark Tank and subsequent partnership with Mark Cuban and Lori Greiner provided the resources and exposure needed to scale their business. Today, Hug Sleep continues to thrive, helping thousands of customers achieve more restful sleep through their innovative Sleep Pod products.
Hey, I’m Amna Habib, an undergraduate student pursuing a Bachelor’s in Business Administration. Shark Tank has always been one of my favorite TV shows because it offers a unique glimpse into the world of entrepreneurship. The way entrepreneurs present innovative solutions to everyday problems aligns with my academic interests and fuels my curiosity about business strategies. Each pitch showcases creativity and strategic decision-making, which I find both insightful and inspiring. Watching the show has deepened my passion for business and motivated me to explore the world of entrepreneurship even further. Beyond business and writing, I love food, shopping, and spending time with my friends and family.
