Tamarak Capital finalizes investment in Pillow Cube
Logan — Tamarak Capital, a multi-family venture capital office based in Springville, Utah, announced today that they finalized their growth investment in Pillow Cube.
Utah Valley resident Jay Davis founded Pillow Cube in July 2019. At the time, he was working at Creatably, his creative agency in Provo that specializes in supporting national as well as local brands like Gabb Wireless, Owlet, and Homie. Davis utilized his creative marketing skills to launch Pillow Cube on Kickstarter, though he’d been developing the idea for far longer. The mother of Davis’s childhood friend gave him the idea when he was just 10 years old when she taught him about Japanese pillow boxes. As Davis got older, he noticed that traditional pillow shapes did not adequately support his head and neck, and while being pitched by potential bedding clients, he saw a cube-shaped foam sample and decided to test it as a pillow.
The Kickstarter was fully funded in 48 hours, supported by an engaging and successful marketing campaign. Since that launch, the company has developed additional products for the Pillow Cube family (like the Side Sleeper Pro, Ice Cube, Sidekick, and Pillow Cubs for kids) and been featured in publications like Buzzfeed, Apartment Therapy, and The New York Times.
Davis says, “Pillow Cube is growing so quickly that we wanted an investor, but we didn’t want to settle for traditional options.” He continued, “Tamarak is not only an investor, but also a strategic partner.”
Tamarak is a limited private fund of the Hatch family and the Malouf family that focuses on pre-seed funding in strategic companies. The office is unique both because of the emphasis on additional resources for entrepreneurs (like marketing, accounting, and operations) and because of the connection to Malouf Companies.
Kacie and Sam Malouf are majority partners at Tamarak and founders of Malouf Companies, a vertically integrated corporation in Logan, Utah that has seen explosive demand for their consumer products. The couple built their business by reimagining the sleep industry, and Malouf Companies has made award-winning sleep products part of their core business since 2003.
Davis says, “We can leap years into the future because we get to plug into the operations at Malouf. They have been excelling in the bedding world for decades.”
A benefit for Tamarak portfolio companies is consulting opportunities with and potential integration in Malouf Companies. The services division of Malouf includes warehousing and third-party logistics support for new companies, allowing them to take advantage of Malouf’s millions of square feet of owned distribution center space.
CEO Sam Malouf says, “Kacie and I started our company 19 years ago as young entrepreneurs, so we understand those challenges and the type of support that would have accelerated our growth. We’re uniquely positioned to help young companies succeed.”
Of the partnership with Pillow Cube, Malouf says, “Working with Pillow Cube is especially exciting because it’s in our core industry. We’ve got almost 20 years of expertise to help this brand—which is already incredibly powerful—go even further.”
The next goals of Pillow Cube are to move into more retail locations, in addition to strengthening their online presence. Keaton Hatch, CEO of Tamarak Capital, says, “With the resources provided by Tamarak, the operations expertise of Malouf, and the brand power of Pillow Cube, I believe we’ve got a future household brand name in our portfolio. This is the kind of strategic partnership that makes Tamarak unique, and it’s exciting to see it all unfolding.”
About Pillow Cube
In 2019, Jay Davis founded Pillow Cube to create the best and most comfortable pillow collection for side sleepers on the market. Pillow Cube was invented to fill the “pillow-hole”—the 90-degree space between a side sleeper’s shoulder and head—and provide proper support for the head and alignment for the neck and spine. Made from the finest materials, Pillow Cube is available in a variety of sizes, including the wider Side Sleeper Pillow, the smaller Sidekick Pillow for naps and travel, and the Cubs Pillows for kids.
About Tamarak Capital
Founded in 2016, Tamarak is a venture-focused family office whose partners previously worked together to grow Profire Energy, a NASDAQ-listed oilfield technology company. Now, Tamarak combines its partners’ experience in scaling high-growth ventures with additional personnel resources (e.g., marketing, accounting, operations, etc.) to help each investment succeed. They invest in talented, curious, and teachable founders who run scalable ventures and inspire those around them. Learn more: www.tmrk.com.
About Malouf Companies™
Malouf Companies™ spans 19 years, six states and multiple industries. Headquartered in Cache Valley, Malouf™ brings high-quality jobs and economic stimulus to northern Utah, employing over 1,600 people and operating in three corporate offices and seven distribution centers. Notable companies in the Malouf™ family include home furnishings innovators Malouf™ Home, Lucid™, and Linenspa™; Utah retail company Downeast™, which includes home and apparel divisions; technology and app pioneer Impact Suite™; and venture-focused family office Tamarak Capital™. The Malouf™ network of over 55 brands and businesses generates revenue that in turn fuels the Malouf Foundation’s fight again child sexual exploitation. As Utah’s largest Certified B Corporation®, the company focuses on using their business as a force for good by serving a triple bottom line of people, planet, and profits.