Smart Nora

Behzad and Behrouz, brothers and co-founders of Smart Nora from Toronto, Ontario, asked for $400,000 for 5% of their business. The company makes a smart pillow insert device that detects snoring and gently moves the user's pillow to stop it without waking them, selling at $499 and helping more than 100,000 customers. They raised $1 million in a 2015 Kickstarter campaign, entered the market in 2017, and have done $42 million in lifetime sales, with recent annual revenue around $2.7 million after a chip shortage slowed growth from a prior ramp-up toward $15 million; the company is break-even and had raised $600,000 at their current $8 million valuation, with new distribution deals signed with top North American retailers.

Michele Romanow went out citing her past experience in the sleep industry, and Manjit Minhas went out due to concerns about challenges ahead. Wes Hall and Brian made a joint offer of $400,000 for 7%, with a performance-based reduction to 6% if the company doubles its revenue this year, which the founders accepted. Arlene Dickinson went out, saying the cheque size was too small for her to get involved.

Smart Nora is still operating and sells through its website.