Cake secured $8 million in an oversubscribed Series A funding round led by Silas Capital and existing investors betting on Cake as the breakout brand to reinvent the sex aisle. Total funding has now surpassed $16 million, making the brand one of the highest-funded start-ups in its category.
WHO: Cake was launched in 2020 by Hunter Morris and Mitch Orkis with 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 ingredients and designed for specific types of sexual enjoyment, all at an affordable price point. Each product is inspired by real individuals and couples and tested across the spectrum of sexual preferences before launch. The brand is sold with select products at Walmart, Target, Amazon, Thrive Marketplace, and UrbanOutfitters.com.
WHY: Early success within retail has proven Cake's ability to appeal to mainstream America. The newly raised capital will allow Cake to meet accelerated demand and further expand into major retail partners across the country.
IN THEIR OWN WORDS: "Cake is clearly building a modern sexual wellness brand by appealing to couples that want to have a bit more fun in their lives," said Brian Thorne, partner at Silas Capital. "As the first investment of our new growth fund, we are confident that Cake is poised to scale quickly through its existing retail relationships, as well as amplify its e-commerce business through our partnership. We're excited to continue with Mitch and Hunter on this journey and can't wait to see what the future has in store for this category-defining brand."
"When we originally launched Cake just over 2 years ago the plan was simple—to make the world's most approachable sex brand that would reinvent the sex aisle for good," said Mitch Orkis, co-founder and CMO of Cake. "It's fun to see the investors we met on day one continue to double down on Cake again and again."
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