House of Wise CBD Raises $2 Million
House of Wise, a CBD brand, has raised $2 million in seed funding.
The brand was launched by Amanda Goetz, who also serves as chief executive officer and who formerly was vice president of marketing at The Knot. The business makes Sex Gummies, Sleep Gummies, Sleep Drops, Stress Gummies and Stress drops that contain certified organic CBD.
The funding was led by Sugar Capital with participation from Selva Ventures, Max Ventures, NBA star Baron David, Fabletics cofounder Jack McCue, Focus Brands’ former president Kat Cole, and women’s podcast network Dear Media.
Goetz partnered with farmers, chemists and a chef in order to develop her product formulations. She turned to cannabis after going through a divorce, she said.
“I’ve faced infertility, miscarriage, divorce, single parents in a pandemic, being an Ace certified personal trainer, and now being a non-traditional VC backed founder,” Goetz said, referring to the tiny sliver of VC money raised by women founders. She said that House of Wise is meant to break down stigmas around shame with “products that make a meaningful difference” in women’s daily routine.
House of Wise is sold direct to consumer, which Goetz said is meant to help build a community. The brand also worked with a group of affiliates who earn commission on sales.
You May Also Like
“All women are influential, and I believe this distribution strategy is critical to mass adoption of cannabis as well as shattering the stigma around needing help in areas like sleep, sex and stress,” Goetz said. “When someone sees me, a founder and mom of three toddlers with a corporate background, talking about my health and wellness routine which includes things like cannabis and masturbation, they are more inclined to listen and adopt the products and routines that help me not only manage my sleep, sex and stress, but thrive in these areas.”
For more from WWD.com, see:
Spa Software Fresha Raises $100M
Waldencast Takes a Stake in Kjaer Weis
Updated: All the Beauty M&A Deals of 2021
Source: Read Full Article