Sleep Country Canada Invests in Canadian Start-up Sleepout
TORONTO, Nov. 23, 2021 /CNW/ - Sleep Country Canada Holdings Inc. ("Sleep Country") (TSX: ZZZ), Canada's leading omnichannel specialty sleep retailer, today announced a $500,000 investment for a 25% ownership stake of Sleepout Inc. ("Sleepout"), a Canadian startup specializing in portable blackout curtains. As demand for sleep wellness products grows, Sleep Country's investment will support Sleepout's entry to the market and its mission of helping people get a better night's sleep.
Born out of the pandemic, and out of co-founders Mark Coombs and Hannah Brennen's frustration, Sleepout is a Canadian direct-to-consumer business that works to help people sleep better while making a positive impact on the environment. Like nearly a third of Canadians, Mark suffered from insomnia and found that total darkness was the best solution to a restful night's sleep. After years of ineffective DIY solutions, Mark and Hannah developed the Sleepout® Curtain, a patented portable blackout curtain that installs anywhere in seconds to completely darken any room.
"We are excited to invest in Sleepout, especially the two founders Mark and Hannah, to help them take their premium blackout curtain to market. We believe this product is a best-in-class solution for one of the most common sleep problems, and will help people get a longer and better night's sleep. We look forward to fuelling their growth with our market expertise and expanding our portfolio of online sleep wellness accessories to be sold digitally across North America," said Stewart Schaefer, President of Sleep Country Canada. "Our investment supports them, and our strategy to provide customers with seamless access to the world's best and most innovative sleep products that we believe will help transform their lives with the power of sleep," added Schaefer.
"We are thrilled to receive this investment from Sleep Country, Canada's leading sleep retailer," said Mark Coombs, CEO and Co-Founder of Sleepout. "We couldn't have asked for a better investment partner. With Sleep Country's support, Sleepout will be able to cover new ground by achieving larger scale and advancing our joint mission of helping North American's sleep better," added Coombs.
Sustainably designed with premium Greenguard® and OEKO-TEX® certified 100 percent blackout fabric, the Sleepout Curtain is incredibly effective at keeping out light. It temporarily installs to any window using industrial-strength locking suction cups and blocks extra light with the help of the proprietary Sleepout Pads — a new non-damaging adhesive technology designed specifically to block light bleeds. The easy-to-install and remove kit packs into a reusable carrying bag that can fit into a backpack or suitcase, making it the perfect blackout solution for home and travel. Sleepout curtains will be sold online through the company's eCommerce website sleepoutcurtains.com and become a part of Sleep Country's growing digital ecosystem.
The company has already established a customer base through one of Kickstarter's top campaigns that ran from June to July 2021 and sold over 3,000 units. Subsequent to Kickstarter, Sleepout launched a crowdfunding campaign on Indiegogo that generated additional revenue and customer interest.
About Sleep Country
For more information about Sleep Country, visit www.sleepcountryir.ca.
For more information about Sleepout, visit www.sleepoutcurtains.com.
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SOURCE Sleep Country Canada Holdings Inc. Investor Relations
Company Codes: Toronto:ZZZ
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