Killing Kittens, the UK-based sex party organiser partly backed by the government, is raising funds to fuel its global expansion and develop new ventures, including a permanent venue, cruise ship events, and a gay male-focused enterprise.
KK Group, operating under the Killing Kittens brand, is aiming to meet the growing demand for “meaningful in-person connections” as society shifts back towards social gatherings. The company plans to “scale globally and unify 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 retail investors through a crowdfunding campaign on Seedrs, targeting a valuation of £10.5 million. The funds will support the next phase of the company’s growth strategy.
The presentation also revealed that KK Group, the Business Champion Awards growth business of the year, is in discussions for 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 numerous smaller platforms like Feeld, Pure, and HUD competing for market share. Sayle confirmed the fundraising plans, expressing a desire to create “a big, open-minded ecosystem for your whole adult life”.
Killing Kittens has already launched a dating app called Wax, reportedly used by “hundreds of thousands” of people as a social media platform. KK Group estimates the niche “sexscape” segment of the dating market to be worth around $345 million.
With over 250,000 members and more than 12,000 annual event attendees, the company currently generates almost 90% of its revenue from the UK. This domestic focus has spurred 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 room revenues within the first eight weeks of sales.
The group is also seeking its first dedicated venue in London to host events, aiming to reduce costs and create new revenue streams. Additionally, it has recently launched KK Homme, a venture catering 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 like 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 British start-ups during the pandemic. The Future Fund still holds approximately a 1.5% stake in the company.
The Future Fund has had mixed outcomes, with 286 of the 1,192 backed businesses declared insolvent as of 30 September 2024, resulting in a £241 million loss for the government. However, it has also generated £76 million from 74 corporate exits.