Somnia+ Shark Tank Update — Shark Tank Season 17
Built by former students, Somnia+ reimagines cramped dorm beds with a tool-free, modular expander kit designed to create more space and comfort without altering university furniture.
Brennan Hellmers and Sloane Barry entered the stage of “Shark Tank Season 17 Episode 11,” pitching a comfy solution for students. Their brand, Somnia+, gained Sharks’ attention because of its appealing Bed Expander Kits to make dorm beds more functional and comfortable.
However, the big question is whether the Sharks would invest in it, or would they decide to pass?
The presence of guest Sharks Chip and Joanna Gaines made the episode even more interesting.
About Somnia+
| Category | Details |
|---|---|
| Business Name | Somnia+ |
| Founders | Brennan Hellmers and Sloane Barry |
| Industry | Lifestyle |
| Product | Bed Expander Kits for dorm beds |
| Investment Asked | $100,000 for 5% equity |
| Deal Status | Deal secured with Barbara Corcoran |
| Deal Outcome | $100,000 for 17.5% equity |
| Valuation | $2 million |
Brennan Hellmers understanding of how to turn ideas into sustainable businesses complemented Sloane Barry’s background in strategy, operations, and marketing. The idea to start Somnia+ struck them when they grew tired of Twin XL dorm beds in colleges and hostels. So, they founded the brand in 2023, driven by their own college experience.
They designed a Bed Expander Kit specifically for dorms. The kit comes with Velcro straps that can be embedded in dorm bed frames, further adding a platform to increase the width. This tool-free, easy-to-install kit is an upgrade designed to create more space for studying and sleeping comfortably.
Also, the brand is currently present in over 100 colleges and universities, including the University of Alabama, Yale, USC, and more. Brennan and Sloane presented their product on the Tank to reach more students who are still dealing with outdated dorm setups.
Let’s have a look at their pitch and how the Sharks reacted.
Somnia+ Shark Tank Pitch
Brennan and Sloane appeared on the Tank seeking $100,000 in exchange for a 5% stake, further valuing the brand at $2 million.
The founders presented their Bed Expander Kit to the Sharks, perking up most of them. Sloane took this opportunity to share how they laughed while discussing their college life and the experience of Twin XL beds.
Daniel Lubetzky was the first to show interest in the brand and asked to learn more about the financials. Sloane shared that the landing cost was $225, while they sell it for $699. Consequently, the high selling price raised concerns about whether students could even afford it.
Nevertheless, Brennan explained that students are already spending $300-$400 on mattress toppers alone. After launching in 2024, the brand earned $188,000 and was projected to reach $450,000 by the end of 2025.
Kevin O’Leary was interested in knowing about how they were managing social media and customer acquisition. Sloane took the plunge and told Sharks that they had hired college interns to make quick install videos, which crossed 30 million views. Also, the CAC (customer acquisition cost) stood at $60.
The guest Shark, Chip Gaines, asked whether they have a patent. The co-founder shared that they have a utility patent covering the entire kit. Additionally, the moment that disappointed the Sharks was when Brennan did not disclose that their initial $650,000 in funding came from Sloane Barry’s father.
The founders told investors about their structured equity deal: 50% until they repay $650K, plus 10% interest.
Let’s see what makes Somnia+ unique and whether they will secure a deal.
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What Makes Somnia+ Unique?
There are various reasons why this brand stands out. Let’s list some of those reasons:
- The Bed Expanded Kit is specifically designed for Twin XL dorm beds and offers a unique solution, unlike mattress toppers or DIY hacks.
- The product solves the issue of size with the help of a modular expander platform that increases the width by 25%.
- The non-permanent installation, along with the Velcro strap system, allows students to embed or remove the kit without any tools, drilling, or violating dorm rules.
Did Somnia+ Get A Deal On The Shark Tank?
Daniel Lubetzky and Barbara Corcoran were skeptical about the founders as they tried hiding the fact that Sloane Barry’s father invested initially. That is when Daniel decided to bow out of the deal negotiations.
However, Sloane explained that they did not want the Sharks to feel they were privileged, and that both of them are working tirelessly on the idea.
The guest Shark, Joanna Gaines, specifically mentioned that she would surely purchase this for her daughter. But she did not want to invest in the brand. Even Lori Greiner cited the same reason and decided to stay out of the deal.
On the other hand, Barbara offered $100,000 in exchange for a 20% stake in the brand. While Kevin O’Leary offered $100K in exchange for a 5% stake, plus a $100-per-bed royalty until he recoups his investment, after which the royalty will drop to $50 in perpetuity.
The founders refused to accept Kevin’s offer due to the very high royalty. They presented a counteroffer to Barbara, and the final deal was closed at $100,000 in exchange for a 17.5% stake.
Somnia+ Shark Tank Update
After the episode aired, Somnia+ got more visibility, and the brand was able to reach more students and colleges. Currently, they are running a Shark Tank deal on their official website (which ends on 30th January 2025), through which they are offering free shipping across the nation.
Where Can You Buy It?
You can purchase the product on their official website and also check out other related items. To get regular updates, you can follow the brand’s Instagram page.
Quick Summary
- Brennan Hellmers and Sloane Barry stormed the Tank, asking for $100K in exchange for 5% equity in their brand, Somnia+.
- Somnia+ offers Bed Expander Kits for dorm beds in colleges and universities to make the students’ journey more comfortable.
- They secured the deal with Barbara Corcoran.
