Killing Kittens, the UK-based sex party organization partly backed by the government, is raising money to support its global expansion and the development of new ventures, including a permanent venue, cruise ship events, and a gay-male-focused foundation.
KK Group, operating under the Killing Kittens brand, aims to meet the growing demand for “meaningful personal connections” as society shifts back towards social gatherings. The company plans to “expand globally and consolidate 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 offer events in Los Angeles, Lisbon, Venice and Paris.
Co-founder Emma Sayle is seeking to raise fresh capital from retail investors through a crowdfunding campaign on Seedrs, targeting a valuation of £10.5m. These funds will support the next phase of the company’s growth strategy.
The presentation also revealed that KK Group, Business Growth Champion Awards of the Yearis in discussions about additional debt financing and has explored strategic expansion opportunities with mergers and acquisitions financiers.
The company identifies the “sex positive space” as highly fragmented, with many smaller platforms like Feeld, Pure and HUD competing for market share. Sayle confirmed the fundraising plans, expressing his desire to create a “large, open ecosystem throughout your adult life.”
Killing Kittens has already launched a dating app called Wax, which is said to be used by “hundreds of thousands” of people as a social networking platform. KK Group estimates the “sexscape” segment of the dating market is worth $345 million.
With over 250,000 members and over 12,000 participants in annual events, the company currently generates approximately 90% of its revenue from the UK. This local focus has stimulated new ambitions for global expansion.
Founded in 2005, Killing Kittens is venturing into cruise ship events, with its inaugural voyage planned for 2026. The cruise has already generated £350,000 in revenue from rooms during its first eight weeks of sales.
The group is also seeking to create its first dedicated venue in London to host events, with the aim of reducing costs and creating new sources of income. In addition, she recently launched KK Homme, a project that caters to gay and bisexual men.
The investor presentation highlighted that KK Group is “a prime 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 had become part-owned by the UK government through the Future Fund, a scheme designed to support fast-growing, tech-focused British startups during the pandemic. The Future Fund still owns about 1.5% of the company’s shares.
The Future Fund has had mixed results, with 286 of the 1,192 supported companies declaring bankruptcy as of 30 September 2024, resulting in a loss to the government of £241 million. However, it also generated £76m from the 74 companies it exited.
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