LOS ANGELES--(BUSINESS WIRE)--Sexual wellness brand Cake today announced that it has raised $4 million in Seed funding, led by venture capital firm Lerer Hippeau. Participants in this round also include Sugar Capital, Brand Foundry Ventures, Selva Ventures, Silas Capital, Gabby Slome (Co-Founder of Ollie), Brian Bordainick (Co-Founder of Starface) and Kate Wallman (Angel investor).
Funding now totals $5.7 million and will be dedicated to product development, scaling e-commerce, and expanding distribution with exciting new retail channels.
Caitlin Strandberg, Partner at Lerer Hippeau, shared that, “The team set out to prove a hypothesis that consumers are ready to invest in more fun sex. In just 9 months they’ve not only proved that’s true with their traction in retail, but now 84% of their customers directly attribute Cake to leading to a better sex life. Those are hard numbers to disagree with.”
Co-Founder & CEO Hunter Morris explained that, “This generation of consumers are more open and sexually fluid than any other generation before. It’s a privilege to make products for how people actually get down, free of shame or awkwardness that’s historically been associated with this category.”
Mitch Orkis, Co-Founder & CMO adds, “We’ve learned people are confused when it comes to sexual wellness products. That’s why every product Cake makes is extremely simple and clear. You immediately know what it is for, and how to use it. We make shopping the sex aisle easy and fun.”
Cake is sexual wellness brand on a mission to help the world have more fun sex. The brand’s line of specialty lubricants, toys and sexual hygiene products are made of the highest quality ingredient and designed for specific types of sexual enjoyment, all at an affordable price point. All products are inspired by real individuals and couples and tested across the spectrum of sexual preferences before launch. Sexual satisfaction guaranteed, or your money back.
Please find brand assets including logo and photography assets here: https://drive.google.com/drive/u/1/folders/1y2VBu8bxca5rgASpvXLk7yTGB1tChWl4