Brookfield Couple Who Landed 'Shark Tank' Deal Returns To Show

BROOKFIELD, WI— A Brookfield couple, who won an investment in their sleeping product after pitching to investors on ABC TV's "Shark Tank", returns to the show for a rare same season follow-up at 7 p.m. on Friday night, according to a news release.

Matt Mundt, who founded and started Hug Sleep in 2019 with only $2,500 landed a $300,000 investment deal in exchange for a 20% stake in Hug Sleep.

At first, Mundt and his wife Angie asked the sharks for a $150,000 investment in exchange for a 10% stake in the company.After receiving offers from all five sharks during the episode, the business partners chose to close the deal with sharks Mark Cuban and Lori Greiner. The “show changed our lives,” Matt Mundt said.

• Within the broadcast’s first weeks, Hug Sleep sold 50,000 units selling out its inventory. Mundt expected to sell between 2,500 and 5,000 units.

• That and subsequent orders led to $4 million in sales in the final months of 2020, growing Hug Sleep by ten times.

• Their local manufacturer hired nearly a dozen employees to keep up with demand.

• Production fabric used was enough to cover 34 football fields.

Sleep Pod uses four-way stretch material to provide compression, applying gentle pressure that hugs that body. It’s the same science behind weighted blankets, but without any of the downsides of heat, size and weight, to help get a better night’s sleep.

Mundt said the Sharks have been incredibly responsive including immediate replies to emails with thoughtful and insightful responses. With their guidance, he put his MSOE Mechanical Engineering Degree to work to design the next generation Sleep Pod which launches Wednesday.

The updated product line includes three additional sizes – kids, tweens and extra-large, applies more pressure across the body, and a new patent-pending design allowing users to stick both legs outside of the Sleep Pod instead of just one.

"Matt’s TV segment was filmed mostly in Milwaukee, once again spotlighting the city and MSOE’s history of innovation and creativity. This time Matt and Hug Sleep are prepared for the likely sales surge and have stocked up on excess inventory to meet the demand," the release said.

Sleep Pod

Mundt has always been a troubled sleeper and was on the look out for tricks, tips and products to improve his quality of sleep.

He started looking into weighted blankets for the first time. He was shocked at how expensive a brand name weighted blanket was going for. Mundt caved and purchased one and quickly ran into the common complaints of weighted blankets.

"The biggest thing is it traps heat like crazy and I'm a warm sleeper. It is so big and heavy so you can't travel with it," he told Patch.

Mundt graduated from Milwaukee School of Engineering with a degree in mechanical engineering.
"I'm no stranger to coming up with solutions to problems," Mundt said.

He thought he could take the proven science behind weighted blankets and repackage it in a way to create a product with all the benefits but none of the drawbacks. Mundt created prototypes of what would become the Sleep Pod.

Mundt said originally he had no intention of starting a company and selling the product.
"It was for my own needs," he said.

Enter in his wife Angie who also had sleep issues. She wanted him to make her a Sleep Pod. From there Angie encouraged Matt to start up a company.

"It was her push that launched everything," Mundt said.