Hello Cake Secures $18M In Series B Funding And Acquires Fellow Sexual Wellness Brand Wet’s Parent Company Trigg Laboratories

Hello Cake, a sexual wellness and telehealth company, has secured $18 million in series B funding and purchased lubricant brand Wet’s parent company Trigg Laboratories Inc. 

The series B round was led by existing investors Silas Capital and Strand Equity, with participation from another existing investor, AF Ventures, which has become a board observer. It brings Hello Cake’s total funding to over $36 million. The brand’s deal with Trigg includes its 70,000-square-foot manufacturing and distribution facility in Las Vegas, establishing Hello Cake as a vertically integrated sexual health and wellness company. 

In a statement on the Trigg deal, Hello Cake CEO and co-founder Hunter Morris said, “This acquisition marks a significant milestone for Hello Cake as we continue to grow and redefine the sexual wellness category. Vertical integration gets us firmly to profitability.”

On Hello Cake’s series B funding, Brian Thorne, partner at Silas Capital, tells Beauty Independent, “Their innovative products, combined with a deep understanding of modern consumer needs, have driven impressive growth in the category. Sexual wellness is no longer a niche market—it’s a booming sector still with enormous potential, and Hello Cake is at the forefront of this evolution. They have committed to their mission of helping couples connect and providing a playful approach to intimacy, which has resonated with a wide audience, positioning them as a leader in the industry.”

Hello Cake’s takeover of Wet will aid in its efforts to take on big competitors like Reckitt Benckiser, BioFilm, Church & Dwight and Lifestyles. Wet sells over two dozen sexual wellness products, mostly lubricants, principally at mass-market chains that also carry Hello Cake such as Walmart, Target and Amazon. Trigg’s portfolio extends beyond Wet to white-label and private-label services. Hello Cake will own and operate the entire portfolio and plans to keep its business as is. Simone Buntin, a 14-year veteran of 35-year-old Trigg and its COO, will stay on at the helm of Trigg. 

Hello Cake has been on a tear since its direct-to-consumer launch in 2020. As previously reported in Beauty Independent, the brand generated over $1 million in revenues in less than a year after its debut. By 2021, its lubricants, sex toys, wipes and over-the-counter medications primarily priced under $20 entered 4,000 Walmart doors. The brand launched at Target and CVS in 2022, when its door count went to about 13,000. From 2023 to 2024, the brand more than doubled its retail footprint and added Walgreens to its list of stockists. 

Today, Hello Cake focuses its DTC site on the sale of lubricants, topical enhancers and OTC supplements, driving consumers to its retail partners to purchase its sex toys and devices. Notably, its site is also the destination for its prescription medication products. Hello Cake rolled out telehealth last year with $54 dissolvable erectile dysfunction medication.

In the summer this year, the brand introduced two prescription medications for women to boost libido by promoting blood flow and vaginal sensitivity. They are O-Cream Rx, a compounded topical formulated with sildenafil, the active ingredient in Viagra, and Libido Lift Rx, a compounded pill containing oxytocin, l-citrulline and tadalafil. The medications aren’t approved by the United States Food and Drug Administration. 

“We’ve found that the audience purchasing habits vary greatly between our distribution channels,” says Cake co-founder Mitch Okris. “Hello Cake’s prescription medication drives the majority of owned e-commerce revenue as it’s only available on HelloCake.com whereas toys are the growth drivers for retail and lubes reign supreme on Amazon.”

Hello Cake isn’t the first brand to scoop up a fellow company in the sexual health and wellness ecosystem as part of its growth strategy. In late 2022, #LubeLife parent company CC Wellness acquired lubricant specialist Shibari and menopause care brand Joylux acquired postpartum specialist Mommy Matters. In late 2023, sustainable period care brand The Flex Company acquired sexual education platform Allbodies Health. Earlier this year, Dame acquired pleasure device maker Emojibator. Looking ahead, Hello Cake remains open to exploring additional mergers and acquisitions.

Hello Cake and its sexual wellness peer brands are navigating an exciting and tumultuous time for the sexual wellness category. Once a highly taboo topic, sexual wellness is being normalized, leading to its arrival on the mainstream consumer packaged goods scene. Still, challenges persist as retailers figure out the products, brands and messages that intrigue consumers.

“Consumers are much more informed, open and proactive about their sexual well-being, and that’s created an even larger opportunity for brands like ours to innovate and meet their needs,” says Okris. “We’ve seen a growing demand for couples who know they want to be having better sex with their partners, but aren’t quite sure where or how to start. Ultimately, the category is no longer limited to functional needs, but has expanded to embrace pleasure and exploration as essential parts of wellness.”