Hello Cake announced in October 2024 the closing of an $18 million Series B funding round led by Silas Capital and Strand Equity, with participation from long-term investor AF Ventures. Total funding for the sexual wellness brand now surpasses $36 million.
Why It Matters
The combination of Series B funding and vertical integration through acquisition demonstrates that sexual wellness companies can attract institutional capital when they present clear paths to profitability — a signal that could encourage more mainstream VC participation in the space.Simultaneously, Hello Cake acquired Trigg Laboratories, Inc., the parent company of the well-known Wet personal lubricant brand, which has been a category pioneer since 1989. The acquisition includes Trigg's 70,000-square-foot manufacturing and distribution facility in Las Vegas, making Hello Cake a vertically integrated sexual health company.
CEO Hunter Morris stated the vertical integration "gets us firmly to profitability," emphasizing continued delivery of "high-quality products at the accessible price points that consumers look for today." Trigg COO Simone Buntin will stay on to lead the Las Vegas operation, with integration planned within 90 days.
Hello Cake's retail footprint more than doubled from 2023 to 2024, with products now available at Target, Walmart, CVS, Walgreens, Rite Aid, and Amazon. The company is also expanding its telehealth presence.
The deal represents one of the largest disclosed funding rounds in the sexual wellness startup space, underscoring growing investor confidence in the category despite persistent stigma.
Sources
Update — 2026-03-14
Initial entry — story first created.