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The company was founded in 1931 in Illinois as Sleeper, Inc. by 13 mattress manufacturers who licensed the Serta name. Subsequently, eight independent licensees acting like a cooperative owned the company. Afterwards, it was controlled and operated as Serta International by its largest licensee, National Bedding Company, which ultimately held 27 of the 34 U.S. Serta manufacturing licenses.

In 2005, two private equity groups teamed up to purchase National Bedding Co.–The Ares Corporate Opportunities Fund, the Los Angeles-based private equity fund of Ares Management, and Teachers’ Private Capital, the private equity arm of the Ontario (Canada) Teachers’ Pension Plan. The American company Serta International is a subsidiary of the American company Serta Simmons Bedding, LLC of Doraville, Georgia. Other licensees include Serta Dormae in Texas, Serta Restokraft in Michigan, and Salt Lake Mattress in Utah.

In August 2018, Serta Simmons Bedding, LLC announced a merger with online retailer Tuft & Needle.

On January 23, 2023, Serta Simmons Bedding filed for Chapter 11 bankruptcy.

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