Cake slices into generation capital as it expands sexual wellness commodity placement • TechCrunch
Sexual wellness brand name Cake therefore week is expanding its own commodity placement in some major retailers, both about generation space in CVS stores, as it announces $8 million in generation Series A funding.
consumers last profiled Cake in April when its own line of lubricants, condoms, toys and sexual hygiene products produced its own reviews in potential and took in $2.5 million in bridge financing. thes enterprise nowadays has five products in contain locations interested as Amazon, Thrive Marketplace and UrbanOutfitters.com.
thes enterprise grew 200% year over year between 2021 and therefore year. Four of its own products are nowadays in CVS, both about Tush Cush, therefore-Low Lotion, Buzzy Butt and Stroker. Cake is also doubling its own commodity SKUs in Walmart, on the shake from four to 11 SKUs, thes enterprise said.
thes sexual wellness market is big sell products nowadays, as much of thes stigma except it has eroded in recent many years. thes market is expected to reach $125.one billion by 2026, up from $67.4 million in therefore year and growing 12% every year, according to KBV Research.
As a result, Cake is not and only 1 alone in attracting venture capital. for example, last week, Dame Products raised $7 million for its own line of vibrators and serums. In therefore year, Barcelona-based Emjoy raised $3 million for its own “sexuality-eloquently subscription audio content.”
Meanwhile, Silas Capital led Cake’s generation investment, which gives thes enterprise over $16 million in total funding to date. Silas was joined by its own existing investors, both about Lerer Hippeau, Selva Ventures, Bullish and Finn Capital Partners.
thes generation funding also continue be focused into continued retail expansion and commodity innovation, Hunter Morris, co-founder and CEO of Cake, told TechCrunch. thes enterprise also brought on Dollar Shave club’s former Chief Innovation Officer Fadi Mourad to head up commodity innovation, and former SmartyPants executive Christina Komen to leader retail sell products.
“consumers operate on a recurring theme of putting sexuality behind ribs in arm’s reach,” Morris said. “Retail and has been kind to our enterprise, and expansion and has been faster than anticipated. As consumers possessed again transparent on thes Cake potential audience, consumers are figuring outside where they shop and on the shake to those places. consumers can’t go into details nowadays, but consumers also continue possessed a generation, exciting retailer those things also continue be carrying Cake in therefore year and 2023.”