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Accommodation Marketplace SleepOut.com Raises US$200,000 in Seed Funding


SleepOut.com, Kenya's leading online accommodation marketplace where users can find, offer and book unique accommodations online, announced today that it has raised approximately US$200,000 in seed funding to finance expansion across markets in Africa and the Middle East.

Nairobi, Kenya, May 24, 2013 --(PR.com)-- SleepOut.com, Kenya's leading online accommodation marketplace where users can find, offer and book unique accommodation online, announced today that it has raised approximately US$200,000 in seed funding to finance expansion across markets in Africa and the Middle East.

Leading the funding round for the Nairobi company, which launched its BETA site in June 2012, is Amsterdam-based Africa Media Ventures Fund.

Lot Carlier, Managing Partner at AMVF remarked, "We are truly excited to embark on this venture. As internet penetration and e-commerce increases on the continent a new consumer class is emerging and SleepOut is simply in the right place at the right time. Together with a solid expansion strategy and a seasoned team with vast regional networks we are confident that SleepOut will provide a best-in-class service across these expanding markets."

Johann Jenson, CEO and co-founder of SleepOut remarked that, “in taking this big step forward we wanted a partner that could bring their wealth of industry expertise to see SleepOut consolidate its position as the region's leading social accommodation marketplace and we look forward to working together as we expand across the region."

In addition to announcing the seed funding, SleepOut introduced NOMAD, an online travel and lifestyle magazine focused on Africa and the Middle East. A first of its kind in the region, the site (www.sleepout.com/nomad) offers an attractive user interface allowing users to read and submit travel stories for publication by the magazine's editors.

"SleepOut provides choice, efficiency and piece of mind for travellers wishing to discover a rapidly modernising Africa. The concept is simple: SleepOut connects travellers looking for unique and affordable accommodation with hosts who have a place to offer," said Mikul Shah, COO and co-founder.

The company aims to re-launch the platform with accommodation offerings in 10 countries across Africa and the Middle East by late 2013.

About SleepOut.com
SleepOut is a leading social accommodation marketplace which uses a unique SMS-driven booking process to make online accommodation bookings in off-the-grid destinations easier. Launched in June 2012, SleepOut provides a secure platform for accommodation hosts (hotels, property owners and agents) in Africa to list their unique spaces for rent.

Find news and updates from SleepOut on their Blog: blog.sleepout.com, Magazine: www.sleepout.com/nomad, Twitter: twitter.com/sleepoutcom or Facebook: facebook.com/sleepoutcom.

SleepOut.com will be launching its new platform in late 2013.
Contact Information
SleepOut.com
Johann Jenson
+254 706 555 555
Contact
www.sleepout.com

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