EX-23.3 22 a2240404zex-23_3.htm EX-23.3

Exhibit 23.3



7550 IH 10 West, Suite 400

San Antonio, Texas 78229

Tel 210.348.1000  Fax 210.348.1003



Date: January 8, 2020


The Board of Directors

Casper Sleep Inc.

230 Park Ave S

New York, NY 10003


Dear Sirs or Madams:


We, Frost & Sullivan of 3211 Scott Blvd, #203, Santa Clara, California, 95054, hereby consent to the filing with the Securities and Exchange Commission of a Registration Statement on Form S-1 (the “S-1”), and any amendments thereto, of Casper Sleep Inc., and any related prospectuses of (i) our name and all references thereto, (ii) all references to our preparation of an independent overview of the “Global Total Addressable Market (TAM) Assessment for the Sleep Economy” (the “Industry Report”), and (iii) the statement(s) set out in the Schedule hereto. We also hereby consent to the filing of this letter as an exhibit to the S-1.


We further consent to the reference to our firm, under the caption “The Sleep Economy” in the S-1, as acting in the capacity of an expert in relation to the preparation of the Industry Report and the matters discussed therein.


Yours faithfully,




/s/ Debbie Wong


Name: Debbie Wong


Designation: Director


For and on behalf of


Frost & Sullivan




SCHEDULE 1) The Frost & Sullivan Assessment forecasts the global Sleep Economy to be $432 billion in 2019, growing at a CAGR of 6.3% to $585 billion by 2024, and forecasts the U.S. Sleep Economy to be $79 billion in 2019, growing at a CAGR of 3.6% to $95 billion by 2024. 2) The total market size of the categories and geographies Casper currently addresses is $67 billion in 2019, leaving significant opportunity for growth. [Note: $67 billion figure is calculated by summing the market size of geographies that Casper is currently operating in using F&S report data.] 3) Consumers are increasing their expenditure on wellness. A 2018 report by the Global Wellness Institute estimated the global wellness industry to be $4.2 trillion in 2017, having grown at a 6.4% CAGR since 2015. Sleep is quickly gaining importance as the third pillar of health and wellness alongside fitness and nutrition as people begin to take their sleep and its impact on their health more seriously, accelerating the growth of the Sleep Economy. For example, according to the Frost & Sullivan Assessment, the global consumer mattress industry grew at a 12.8% CAGR from 2014 to 2018 and the global consumer sleep industry grew at a 9.3% CAGR over the same period. 4)


5) 6)


7) S-1 Cover 8) According to the Frost & Sullivan Assessment, the commercial sector of the Sleep Economy, including hotels, airplanes, and healthcare facilities is also poised for growth, as businesses invest in the sleep experience in commercial and medical environments in response to consumer demand. The Frost & Sullivan Assessment estimates the global commercial sleep market to be $96 billion in 2019, growing at CAGR of 4.6% to $121 billion by 2024. Leading hotel brands are prioritizing the sleep experience by investing in better quality bedding, comfort maximization, and connected in-room sleep innovations. In addition, leading airlines such as American Airlines are expanding their in-flight sleep offerings by providing luxury sleep kits, enhanced bedding, and sleep accessories.