In Brands, Finance

prima, a science-driven plant wellness brand grounded in the strong therapeutic potential of hemp cannabinoids/CBD, announced a $3.275MM seed round led by Lerer Hippeau, with Greycroft and other well-known private and institutional investors.

We are beginning to see the $22 billion market by 2022 become a reality through the global transformation that is happening from fear-based cannabis prohibition into a hemp industry fueled by facts, market data, medical research, customer-patient experiences, and evolving legislative solutions.

prima is first launching as an education-first wellness platform with a full suite of consumer hemp CBD products launching in Q2 2019. The brand is founded by Honest Company co-founder Christopher Gavigan, and co-founders Jessica Assaf, women’s health and cannabis activist, and Laurel Angelica Myers, mission-oriented operator and Honest alum.

The founders are not solely focused on capturing the CBD opportunity, but also doing good in the process. prima is the world’s first hemp CBD brand to be designated as a Public Benefit Corporation (PBC), joining world-class brands like Danone of North America and Patagonia, who leverage social impact as the core tenant of their corporate charter to use business to drive verifiable social and environmental change. In addition prima will hold a B Corp certification, meeting the highest standards of business transparency and accountability to balance profit and purpose.

“There’s an element of confusion surrounding how and why we should use CBD and hemp cannabinoids,” says Gavigan, on his decision to launch prima. “These molecules matter to humanity, and through prima, we strive to correct historical stigma and unlock the physiological science about this plant’s therapeutic potential. We’ve been obsessive about scientific integrity, ingredient innovation, meticulous clean sourcing, and carefully designing a delightful consumer experience. This young industry needs leadership and CPG sophistication, and we’re creating industry-defining standards for purity, transparency, and rigorous quality protocols. We’re thrilled to be launching prima at this time, as we are positioned to be more than content or commerce, and more than a ‘craze’ or an exploding industry, but as a re-imagination of living in balance and living better.”

Photo: Esteban Lopez via Unsplash

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