Sexual wellness brand Keke is expanding its product placement in some major retailers, including new space in CVS stores, as it announced $8 million in new Series A funding this week.
We last profiled Keck in April when the line of lubricants, condoms, toys and hygiene products debuted at Target and took on $2.5 million in bridge financing. The company now has five products in store locations as well as Amazon, Thrive Marketplace and UrbanOutfitters.com.
The company has grown 200% year-on-year between 2021 and 2022. Four of its products are now available at CVS, including Tush Kush, So-Low Lotion, Boozy Boot and Striker. Keck is doubling its SKUs at Walmart, going from four to 11 SKUs, the company said.
The sexual safety market is now big business, with much of the stigma surrounding it eroding in recent years. The market is expected to reach $125.1 billion by 2026, up from $67.4 million in 2019 and growing 12 percent annually, according to KBV research.
For this reason, Keck is not alone in attracting venture capital. For example, last week, Dame Products raised $7 million for its line of moisturizers and serums. In the year In 2020, Barcelona-based Mjoy raised $3 million for its “sex-positive subscription audio content.”
Meanwhile, Silas Capital led Keck’s new investment, giving the company more than $16 million in total funding to date. Silas is joined by his existing investors, including Lerer Hippeau, Selva Ventures, Bullish and Finn Capital Partners.
The new funding is focused on continued retail expansion and product innovation, Keck co-founder and CEO Hunter Morris told TechCrunch. The company brought on Fadi Murad, former chief innovation officer of Dollar Shave Club, to lead product innovation, and former SmartyPants executive Christina Komen to lead retail sales.
“We frequently operate on the theme of putting sex back on the arm,” Morris said. “Retail has been kind to us, and expansion is faster than expected. As we get more specific on Cake’s target audience, we’re finding out where they shop and where they go. We can’t go into details right now, but we’ll have an exciting new retailer taking the cake in 2022 and 2023.
