AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Soul Community Planet Closes $5 Million Series A Funding to Grow its Holistic Hospitality Platform

December 16, 2019 GMT

SAN JUAN CAPISTRANO, Calif.--(BUSINESS WIRE)--Dec 16, 2019--

Soul Community Planet (SCP), a Holistic Hospitality company providing fair-priced lodging, coworking and fitness experiences centered on the values of personal wellness, social good and the environment, today announced it has secured $5 million in investments in a new Series A Preferred Equity offering (the “SCP Series A”). The initial SCP Series A comprises approximately 17% of SCP’s total capitalization. A second SCP Series A closing is planned for February 2020.

“SCP is founded on the values of wellness, social good and eco-friendliness. A growing share of conscious consumers desire lodging, work and socialization venues that embrace SCP’s core values. The strong investor participation in our SCP Series A offering, combined with ongoing positive acclaim for SCP, gives us confidence that Soul Community Planet is providing what a deep and committed share of the population has been seeking,” said Ken Cruse CEO and Co-Founder of SCP.

The first two SCP venues – SCP Colorado Springs and SCP Redmond – incorporate lodging, coworking memberships and boutique fitness. The third SCP venue is slated to open in Q1 2020. To date, there are no other accessibly priced hospitality brands solely focused on the core values of SCP.

“We believe the hospitality industry is primed for disruption by innovative, values-based, hand-crafted entrants, such as Soul Community Planet. We are committed to thoughtfully growing SCP over the next several years,” said Cruse.

SCP Adds Advisory Committee

To help guide its strategic execution, SCP also has formed a 14-person Advisory Committee comprised of key industry leaders, conscious capitalists and social entrepreneurs. SCP Advisory Committee members include:

Cruse said, “We are extremely grateful for our Advisory Committee members. These individuals have already made significant contributions to SCP through strategic partnerships, business guidance and capital relationships. Looking ahead, I am confident that our Advisory Committee will be instrumental in helping to shape, guide and fuel SCP’s future growth through industry relationships, consumer outreach, capital partners and strategic vendors.”

About Soul Community Planet

San Juan Capistrano, Calif.-based Soul Community Planet was born out of a vision to provide holistic hospitality experiences for individuals desiring to make positive choices for themselves, humankind and the planet. SCP Colorado Springs was the first concept to launch in 2018, with SCP Redmond opening in 2019 and a third venue slated to open in early 2020. Soul Community Planet donates five percent of its profits to charitable causes that share its core values. For more information, go to www.SoulCommunityPlanet.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191216005604/en/

CONTACT: Media Contact:

Liana Miller / Engaged Communication

P: 949-276-8920

E:liana@engagedcommunication.net

KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES HEALTH OTHER PROFESSIONAL SERVICES SMALL BUSINESS FITNESS & NUTRITION LODGING TRAVEL

SOURCE: Soul Community Planet

Copyright Business Wire 2019.

PUB: 12/16/2019 11:59 AM/DISC: 12/16/2019 11:59 AM

http://www.businesswire.com/news/home/20191216005604/en