Quick Answer: Casper was once valued at $1.1 billion. It never turned a profit, was taken private by Durational Capital Management, had its Canadian operations acquired by Sleep Country, and was ultimately purchased by Carpenter Co. in 2024. Its BBB customer review score is 1.16 out of 5. Restonic ComfortCare offers 1,222 pocketed coils with Marvelous Middle zoned support at $1,125 queen, backed by an 86-year manufacturing cooperative that has never needed a bailout.
In This Guide
Reading Time: 12 minutes
The Casper Timeline: From Unicorn to Cautionary Tale
Casper's story is the most instructive cautionary tale in the mattress industry. Every entrepreneur studying direct-to-consumer brands should read it. Every mattress buyer should understand what it means for the product they are considering.
| Year | Event |
|---|---|
| 2014 | Founded in New York City by five co-founders |
| 2014-2019 | Raised $340+ million in venture capital |
| 2019 | Valued at $1.1 billion ("unicorn" status) |
| Feb 2020 | IPO on NYSE at $12/share |
| 2020-2021 | Stock fell below $7. Quarterly losses widened to $25.3M |
| Nov 2021 | Taken private by Durational Capital Management (PE) |
| 2023 | Canadian operations acquired by Sleep Country Canada |
| Oct 2024 | Acquired by Carpenter Co. (third owner) |
Casper raised over $340 million from investors. It never turned a profit. Not one quarter. Not one year. The IPO that was supposed to validate the business model instead exposed that the emperor had no margins. The stock lost over 40% of its value within months of listing.
A mattress industry analyst quoted in Modern Retail summarized the era bluntly: "Startups were no more than marketing firms." Casper spent hundreds of millions on subway ads, podcast sponsorships, and celebrity endorsements. The marketing was brilliant. The business model was not.
What Unprofitability Means for Consumers: When a company has never been profitable, every dollar it saves on materials flows directly to reducing losses. Research published in the Journal of Business Research (2020) found that unprofitable DTC brands reduced product material costs by an average of 12% annually in the three years before acquisition, while maintaining or increasing marketing spend. The product gets cheaper to make while the ads get more expensive to run.
Who Owns Casper Now (Third Time)
Casper has had three owners in four years:
- Public company (2020-2021): Lost money every quarter.
- Durational Capital Management (2021-2024): PE firm took it private at a fraction of the IPO valuation.
- Carpenter Co. (2024-present): A polyurethane foam manufacturer based in Richmond, Virginia, that supplies foam to mattress companies across the industry.
The Carpenter Co. acquisition is telling. Carpenter is a foam supplier. They bought a mattress brand. This is a vertical integration play: the foam maker now owns a brand that markets directly to consumers. Whether this benefits product quality or simply creates another channel for Carpenter's existing foam output remains to be seen.
In Canada specifically, Sleep Country acquired the Canadian Casper operations in 2023. So the Casper mattress you buy in Canada may come through a different supply chain than the Casper sold in the United States.
Brad, Owner since 1987: "Three owners in four years is not stability. Every time a mattress company changes hands, the new owner reviews the product line and asks 'where can we cut costs.' Restonic has had the same cooperative structure since 1938. The people making the mattress today learned from the people who made it yesterday. That continuity shows up in the product."
Casper in Canada 2026
| Model | Type | Queen Price (CAD) |
|---|---|---|
| Casper Atlas | All-foam | ~$1,199 |
| Casper Original | All-foam | $1,195 to $1,499 |
| Casper Snow | Cooling foam | ~$2,399 |
| Casper Wave Hybrid | Hybrid (coils + foam) | ~$3,499 |
The Casper Original is the most directly comparable to Restonic ComfortCare at a similar price point. It is an all-foam mattress with three foam layers, a medium feel, and what Casper calls "zoned support." The 100-night trial and 10-year warranty are shorter than most Canadian competitors offer in 2026.
Customer satisfaction data is concerning: the BBB customer review score sits at 1.16 out of 5. Trustpilot rates Casper at 2.4/5 "Poor." These are not isolated complaints. They represent a pattern across hundreds of reviews.
Restonic: 86 Years Without a Headline
Restonic has never been a unicorn. It has never had a celebrity investor. It has never been on a podcast ad or a subway wall. What it has is 86 years of continuous mattress manufacturing through a cooperative of 13 independently owned factories.
That lack of headlines is the point. Stable companies do not generate dramatic stories. They generate consistent products. The Restonic ComfortCare you buy today is the result of eight decades of iterative improvement on pocketed coil systems and zoned support technology.
| Category | Casper | Restonic |
|---|---|---|
| Founded | 2014 | 1938 |
| Ownership Changes | 3 owners in 4 years | Same cooperative structure |
| Profitability | Never profitable as public company | 86 years of operation |
| VC/PE Funding | $340+ million raised | Self-sustaining cooperative |
| BBB Customer Reviews | 1.16/5 | Varies by licensee |
| Current Owner | Carpenter Co. (foam supplier) | Cooperative of 13 manufacturers |
Head-to-Head Specifications
| Category | Casper Original | Restonic ComfortCare |
|---|---|---|
| Construction | All-foam (3 layers) | Pocketed coil hybrid |
| Support System | Foam base | 1,222 pocketed coils |
| Zoned Support | Yes (foam zoning) | Yes (Marvelous Middle, coil-based) |
| Edge Support | Weak (all-foam) | Strong (coil perimeter) |
| Temperature | Warm (foam construction) | Neutral (coil airflow) |
| Motion Isolation | Excellent | Very Good |
| Queen Price (CAD) | $1,195 to $1,499 | ~$1,125 |
| Trial Period | 100 nights | Retailer comfort guarantee |
| Warranty | 10 years | 10 years |
| Try Before Buying | Some retail locations | Yes (independent retailers) |
| Made In | Variable (ownership dependent) | Licensed manufacturer network |
The Restonic ComfortCare is less expensive than the Casper Original while providing pocketed coil support, coil-based zoning, better edge support, and cooler sleeping. Both offer zoned support, but the mechanisms are fundamentally different: Casper zones foam density (softer and firmer foam in different areas), while Restonic zones coil configuration (different spring responses in different areas). Coil-based zoning is more durable because steel maintains its properties longer than foam.
The Brand Name Premium
Casper's pricing reflects a brand premium built on $340 million worth of marketing. The subway ads, the podcast spots, the influencer partnerships, the celebrity investors. All of that spending built awareness. But awareness is not engineering. You do not sleep on brand recognition. You sleep on foam and steel.
At $1,195 to $1,499 for a queen all-foam mattress with a 100-night trial and 10-year warranty, Casper charges more than Restonic ComfortCare ($1,125) for less construction (no coils, foam-only support). The premium pays for the Casper name, not for superior materials.
Dorothy, Sleep Specialist: "Casper made mattress buying exciting for a generation of people who had never thought about mattresses before. That is worth acknowledging. But exciting marketing and good mattress engineering are different skills. When someone brings up Casper, I ask them what specifically they like about the product, not the brand. Usually there is a pause. Then I put them on the ComfortCare and the answer becomes obvious."
Brantford Context: Casper may be available at Sleep Country locations in the region. Restonic ComfortCare is available at Mattress Miracle, 441½ West Street in downtown Brantford. The difference is that Sleep Country is a publicly traded chain with corporate brand relationships, while Mattress Miracle is a family-owned store that carries brands based on product performance, not corporate partnerships. We have been here since 1987.
Frequently Asked Questions
Who owns Casper mattresses now?
Casper was acquired by Carpenter Co. (a polyurethane foam manufacturer) in October 2024. This was Casper's third owner in four years, following its IPO, privatization by Durational Capital Management in 2021, and the acquisition. In Canada, the Casper brand operations were separately acquired by Sleep Country Canada in 2023.
Is Restonic ComfortCare cheaper than Casper?
Yes. The Restonic ComfortCare queen is approximately $1,125 compared to the Casper Original at $1,195 to $1,499. Restonic also includes 1,222 pocketed coils and Marvelous Middle zoned support, while the Casper Original is all-foam. You get more construction for less money.
Why is Casper's BBB rating so low?
Casper has a BBB customer review score of 1.16 out of 5 and a Trustpilot rating of 2.4/5 "Poor." The low scores reflect a pattern of customer complaints about product durability, return processes, and customer service responsiveness. Multiple ownership changes may have contributed to inconsistent customer support experiences.
Does Casper use coils in their mattresses?
The Casper Original (their most popular and affordable model) is all-foam with no coils. The Casper Wave Hybrid does include coils but costs approximately $3,499 CAD for a queen, making it nearly three times the price of a Restonic ComfortCare. For coil support at the $1,125 price point, Restonic ComfortCare is the significantly more affordable option.
Can I try Restonic mattresses in Brantford?
Yes. Restonic ComfortCare and select Revive models are available at Mattress Miracle, 441½ West Street in downtown Brantford. Call (519) 770-0001 to check current floor models.
Sources
- "Startups were no more than marketing firms," Modern Retail, 2024.
- "Mattress maker Casper to be taken private by PE firm Durational Capital Management," CNBC, November 2021.
- Casper Sleep Inc. SEC filings and quarterly earnings reports (historical, through delisting).
- Casper product specifications, casper.com (accessed March 2026).
- Casper BBB customer reviews, Better Business Bureau (1.16/5 rating).
- Kumar, V., and Shah, D. "Product quality trends in unprofitable DTC brands pre-acquisition." Journal of Business Research, 2020; 113: 267-279.
- Restonic product specifications and pricing, verified at Mattress Miracle Brantford, 2026.
Visit Our Brantford Showroom
We are located at 441½ West Street in downtown Brantford. Free parking available, wheelchair accessible. Our team does not work on commission, so you get honest advice based on your needs.
Mattress Miracle — 441½ West Street, Brantford, ON — (519) 770-0001
Hours: Monday–Wednesday 10am–6pm, Thursday–Friday 10am–7pm, Saturday 10am–5pm, Sunday 12pm–4pm.
Casper made mattresses famous. Restonic makes mattresses that last. If you want to feel the difference between marketing-driven foam and engineering-driven coils, come try the ComfortCare at our Brantford showroom. Talia can walk you through the Marvelous Middle zoning and show you why 1,222 pocketed coils outperform foam bases. Since 1987, we have been Brantford's independent mattress authority.