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Comments (0) Incubation, PIVOT East, Winners

SleepOut Graduates out of The Incubation Program

Founded in 2011, SleepOut makes it easy for you to make booking of accommodation online. They provide a secure accommodation marketplace connecting travellers looking for a cool place to stay, with hosts and their empty beds.
Its primary markets are the East African countries of Kenya, Uganda, Tanzania and Rwanda. SleepOut will also continue to expand aggressively within Southern Africa, including Zambia, Zimbabwe, South Africa and Malawi, and the Indian Ocean islands.
In August 2013, SleepOut joined m:lab East Africa’s incubation program after winning PIVOT East 2013 in the Enterprise category. The incubation space offered a quiet and dedicated space conducive for team building and “heads down” focus. Incubation at m:lab East Africa also improved access to resources including investors, mentors, potential partners, mobile trainings and an avid mobile community

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SleepOut Team during PIVOT East 2013 where they emerged Winners in the Enterprise category

The company graduated from the incubation program in July 2014 and  has since moved their main office to Mauritius in the hope of reaching an international market and not just Africa and the Middle East.
Last year SleepOut raised approximately US$200,000 in seed funding to finance expansion across markets in Africa and the Middle East. The round of funding was led by African Media Ventures Fund, an Amsterdam-based Africa seed fund. They have since closed the round of funding.
Currently the company is in talks to raise a Series A round in 2015.The business will assess a majority stake sale for the round and is speaking to large venture capital funds in Europe and a larger top tier fund in the US said Johann, adding that the potential size of the stake is yet to be finalised. The company is also holding discussions with global strategic investors with an interest in hospitality.
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SleepOut team giving a talk to developers during TechTrend

Sleepout has since launched a global portal with hosts in 62 countries. It has grown from 2,000 listing last year to around 6,000 at present. The company has also established a franchise model running an African overland tour with partners in ten countries between Zanzibar and Lagos. The company is keen to set up further franchises with local partners in 20 more countries across Africa.
SleepOut has won several accolades among them the 2014 Startup Battle of the Cities (SBOC) at IdeaLab, The Founders’ Conference in Germany. The company was the only startup from East Africa to pitch at the 2013 Top 50 Global Alpha Startup Web Summit in Dublin, Ireland. The company was also selected by CNN among the 15 African technology startups to watch in 2014
For more information on the company, visit their website , like them on facebook at and follow them on twitter  @SleepOutcom
 

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