Killing Kittens, the British sex party organizer backed in part by the government, is raising money to fuel its global expansion and develop new ventures, including a permanent venue, cruise ship events and a gay male-focused venture.
KK Group, operating under the Killing Kittens brand, aims to meet the growing demand for ‘meaningful personal connections’ as society shifts back to social gatherings. The company plans to “scale globally and unite a premium adult market that currently lacks a true leader.”
Having previously hosted events in New York, Killing Kittens will relaunch its services in the city next year, with additional plans to introduce events in Los Angeles, Lisbon, Venice and Paris.
Co-founder Emma Sayle is seeking to raise new capital from private investors through a crowdfunding campaign on Seedrs, targeting a valuation of £10.5m. The funds will support the next phase of the company’s growth strategy.
The presentation also showed that KK Group, the Business Champion Awards growth company of the yearis in discussions for additional debt financing and has explored strategic expansion opportunities with M&A financiers.
The company identifies the ‘sex-positive space’ as highly fragmented, with numerous smaller platforms such as Feeld, Pure and HUD competing for market share. Sayle confirmed the fundraising plans and expressed a desire to create “a big, open-minded ecosystem for your entire adult life.”
Killing Kittens has already launched a dating app called Wax, which is reportedly used by “hundreds of thousands” of people as a social media platform. KK Group estimates that the niche “sexscape” segment of the dating market is worth about $345 million.
With more than 250,000 members and more than 12,000 visitors to annual events, the company currently generates almost 90% of its turnover from Great Britain. This domestic focus has led to new ambitions for global expansion.
Founded in 2005, Killing Kittens is venturing into cruise ship events, with the maiden voyage scheduled for 2026. The cruise has already generated £350,000 in room revenue in the first eight weeks of sale.
The group is also looking to establish its first dedicated venue in London to host events, with the aim of reducing costs and creating new revenue streams. Additionally, it recently launched KK Homme, a business targeting gay and bisexual men.
The investor presentation highlighted that KK Group is “an important acquisition target for larger companies looking to diversify their portfolios.” The company is also considering a public listing on a smaller exchange such as AIM to provide future exit opportunities for investors.
In 2022, it was revealed that Killing Kittens became part-owned by the UK government through the Future Fund – a scheme designed to support fast-growing, tech-focused UK startups during the pandemic. The Future Fund still has a stake of around 1.5% in the company.
The Future Fund has had mixed results, with 286 of the 1,192 companies supported having been declared insolvent by September 30, 2024, resulting in a £241 million loss to the government. However, it has also generated £76 million from 74 corporate exits.