Sexual wellness company Cake has secured $8 million in a series A financing round. The Inglewood startup will use the money for retail expansion and product innovation. The company distributes its condoms, lubricants and devices through its website and retail partners like CVS Health Corp., Target Corp. and Walmart Inc.

Silas Capital, a New York City private equity firm, led the funding round for Cake, with additional funding from Lerer Hippeau, an early-stage venture capital fund based in New York City; Bullish Inc., a New York private equity firm; Selva Ventures a San Francisco firm that invests in emerging consumer brands; and Finn Capital Partners, also based in San Francisco, which invests in high-growth, early-stage consumer goods companies. All of the firms were prior investors in Cake.

Cake’s goal is to make premium affordable sex products more available, Mitch Orkis, co-founder and chief marketing officer of Cake, said.
To achieve that goal, the company must expand its retail presence and double down on where shoppers shop, he said, adding, “That means expansion in the retail stores we are already in and getting new retailers.”

CVS is the latest retailer to stock Cake’s products.
“There are some additional retailers where we will be rolling out, but we are not able to announce who those are quite yet,” Orkis said.

The company uses a color-coded system to make it easier to find what customers are looking for in the sex aisle, Orkis said.
Orange is geared toward men, while blue is for women, and pink is for the backside.
“I think people like the clarity,” Orkis said.

He added that “people don’t feel awkward picking up our products and putting them in their baskets.”
Most of Cake’s products range from $12 to $30.