Hug Sleep Shark tank update — Where the weighted sleep pod is now
Hug Sleep Shark Tank, the innovative company behind the adult swaddle, remains a thriving success in 2026. Founded by husband-and-wife duo Matt and Angie Mundt, the brand gained national fame on Shark Tank Season 12 and has since evolved into a wellness powerhouse.
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TABLE OF CONTENTS
Key takeaways
- Hug Sleep is renowned for the Sleep Pod, a cosy cocoon-like swaddle that uses Deep Touch Pressure Therapy to simulate a warm hug.
- Founders Matt and Angie Mundt appeared on Shark Tank Season 12 seeking $150,000 for 10% equity.
- The company successfully secured a joint deal with investors Mark Cuban and Lori Greiner.
- After starting with $490k in sales, the company grew to over $37 million in lifetime revenue by 2024.
- The brand now offers hooded pods, children's versions, and a loungewear line.
Business profile
Business name | Hug Sleep |
Industry | Wellness |
Founders | Matt Mundt, Angie Kupper |
Year of establishment | 2019 |
Product | Sleep Pod |
Business valuation | $1.5 million (pre-money at pitch) |
Shark Tank appearance date | 20 October 2020 |
Shark Tank appearance season | Season 12, Episode 3 |
Equity asked | $150,000 for 10% equity |
Equity offered | 20% |
Offer (s) | Mark Cuban and Lori Greiner: $300,000 for 20%; Kevin, Daymond, and Robert: $300,000 for 20% |
Shark(s) | Mark Cuban and Lori Greiner |
Result | Deal closed |
Hug Sleep's Shark Tank: The successful multi-dollar swaddle sensation
In October 2020, Matt and Angie Mundt pitched Hug Sleep on the reality TV show Shark Tank, Season 12, Episode 3. They were seeking $150,000 for 10% of their business, sparking a bidding war from all five Sharks.
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The Sleep Pod was born from the founder's personal sleeping struggles. The pod provides gentle, calming compression, thanks to a four-way stretch material. Mundt explained to the Sharks:
[The] Sleep Pod uses a four-way stretch material that wraps around your entire body. As this fabric stretches, it wants to compress, providing a gentle, calming pressure, helping you to relax and fall asleep. It truly simulates the feeling of being hugged.
Hug Sleep was founded in February 2019 with only $2500 of their savings. In only 16 months, they had reached $490,000 in total sales.
Hug Sleep’s Shark Tank deal details
The company received two offers of $300,000 for 20% from Mark Cuban and Lori Greiner, as well as the same offer from Kevin, Daymond, and Robert. Ultimately, they chose a $300,000 investment from Mark Cuban and Lori Greiner in exchange for 20% equity.
Hug Sleep's after Shark Tank update
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Three months after airing, sales hit $4.1 million, with lifetime revenue reaching $15 million by 2022. As of June 2024, the company had grown from $490k in sales to $37 million in sales. Additionally, their lifetime revenue was over $25 million.
The TV personality and entrepreneur Lori Greiner celebrated the brand's growth, noting the company has moved from three products at the time of the pitch to over 100 products. She posted a clip on Instagram with the caption:
Hug Sleep came into the tank with $490k in sales, 3 products, and 2,500 units sold. Mark & I fell in love with the product and the entrepreneurs. TODAY…(3.5 years later) this company has done over $37 Million in sales, has 100 Products, and over 500K units sold.
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In an article published on 24 February 2024, Hug Sleep received positive reviews from Wirecutter, a company owned by The New York Times. Annie Chou stated:
The fabric feels lightweight and buttery-soft. It’s stretchy, but it fits snugly, like a custom-tailored sleeping bag. And, like shapewear, the Sleep Pod gently compresses to fit tightly around your entire body.
The business also has a strong presence on social media. Their Instagram page has a substantial following of over 62.8k followers.
Is Hug Sleep Shark Tank still in business?
Source: UGC
As of 2026, Hug Sleep is still in business and has become a household name in the wellness industry. The company has expanded its products beyond the original pod to include:
- Sleep Poe Move for adults, which features a foot opening for teen-sized.
- Hooded Sleep Pod Move. Added comfort to those who prefer head coverage.
- Sleep Pod Move for kids
- Loungewear, including hoodies and joggers.
FAQs
- What is Hug Sleep? Hug Sleep is a wellness brand known for the Sleep Pond, a wearable blanket that uses compression to help users fall asleep faster and stay asleep longer.
- Who founded Hug Sleep? The company was founded by husband and wife, Matt Mundt and Angie Kupper, from Milwaukee, Wisconsin.
- What was the Hug Sleep Shark Tank pitch? The business owners pitched $150,000 for a 10% equity stake in the business.
- What was the Hug Sleep Shark Tank's deal? Hug Sleep secured $300,000 investment for a 20% stake in the business.
- Who invested in Hug Sleep? The business got a deal from the American businessman and television personality Mark Cuban and TV personality and entrepreneur Lori Greiner.
- When did the Hug Sleep Shark Tank episode air? The Shark Tank season 12, Episode 3, featuring Hug Sleep, aired on 30 October 2020.
Hug Sleep from Shark Tank is a standout success story, having grown from a simple idea into a widely recognised wellness brand. With the backing of Mark Cuban and Lori Greiner, the Milwaukee duo has built a comfort-focused company that continues to expand its product range and reach.
Legit.ng published an article about DNA Simple. DNA Simple appeared on Shark Tank in 2017 and is still in business. The company was founded in 2015 and is committed to advancing DNA medical research.
Although DNA Simple did not close a deal on Shark Tank, the exposure helped the company grow rapidly. The organisation connects researchers with DNA donors for genetic studies at a fee of at least $50 for their samples. Find out more about DNA Simple and how it's doing.
Proofreading by Kola Muhammed, copy editor at Legit.ng.
Source: Legit.ng
