Company Research Report: Resident

Company Overview

• Name: Resident

• Mission: At Resident, the mission is to create a house of brands focused on quality materials, timeless style, and most importantly, comfort. This is reflected in their belief that living spaces should not only look good but also feel good.

• Founded: Resident was launched with the introduction of Nectar in 2017. The company was founded by Eric Hutchinson, Ran Reske, Craig Schmeizer, Sharon Dagan, Tomer Hatav, and Scott McLeod.

• Key People: Eric Hutchinson, Co-Founder and Co-CEO; Gil Efrati, CMO.

• Headquarters: No specific location provided for the headquarters.

• Number of Employees: No information is available.

• Revenue: No information is available.

• Known For: Resident is known for its digitally-native approach towards mattresses and home goods, creating popular brands like Nectar, DreamCloud, Siena, Awara, and Cloveralne.

Products

• Nectar:

• Description: Nectar offers award-winning mattresses that provide unmatched comfort and are top-ranked among consumers.

• Key Features: High-quality materials, five layers of comfort, innovative cooling covers, compatible with Google Nest Hub for sleep sensing technology.

• DreamCloud:

• Description: A premium hybrid mattress brand offered directly to consumers at an attainable price.

• Key Features: Hybrid design incorporating both foam and spring technology for enhanced comfort and support.

• Siena:

• Description: An affordable memory foam mattress option for budget-conscious consumers.

• Key Features: Cost-effective design without compromising on comfort and basic features.

• Awara:

• Description: Focuses on providing sustainable sleep solutions using natural and organic materials.

• Key Features: Incorporation of sustainable materials aimed at environmentally conscious consumers.

• Cloveralne:

• Description: Offers bedding and bathware products, though specific details are not provided.

• Key Features: No specific features detailed.

Recent Developments

• New Products Launched:

• Nectar introduced two new premium mattress models: the "Nectar Premier" and the "Nectar Premier Copper".

• In partnership with Google, these new mattresses come with the Google Nest Hub featuring Sleep Sensing technology.

• New Features/Partnerships:

• Partnership with Google, making Nectar Google's exclusive sleep partner, with integrated technology featuring personal bedside assistance and sleep tracking.

• Nectar's parent company, Resident, secured $130M in Series B funding aimed at further product development, performance marketing optimization, and strategic brand partnerships.

• Expansion occurred with the new product lineup, based on consumer demand for elevated mattress offerings.

• Manufacturing and Retail Expansion:

• Opened a manufacturing facility in Jeffersonville, IN, expected to create 100 jobs.

• Nectar products are now available in over 2,500 major retailers nationwide.

This comprehensive report on Resident highlights the company's mission, products, and recent strategic efforts, showcasing its dedication to comfort, innovation, and customer satisfaction.