This summer is going to be a scorcher for startups that help people get it on.
Crystal Cox/Business Insider
Startup founders and investors say the “sextech” category has never been hotter. Half of adult Americans have gotten a COVID-19 vaccine, and that could lead to more sex this summer. Venture capital funding is flowing to these startups, as investors warm up to the vice category. See more stories on Insider’s business page.
Last year, Cake, a sexual health and wellness startup, sold more coconut oil moisturizing cream made for men’s masturbation than any other product it offers.
Now, as more people get a COVID-19 vaccine and leave their homes to mingle, the company says it’s seeing an uptick in sales of lubricants and cleansing wipes created for couples’ sex.
Half of American adults have had at least one dose of the vaccine, and that could spell the end of a year of celibacy for many of them. Some are turning to sexual health and wellness startups to have more titillating and safe sex in the summer of love, startup founders and investors say.
The next several months could be boom times for companies in “sextech” and other sexual wellness businesses, from direct-to-consumer lingerie to birth control delivery. We spoke to five startups that said they’re seeing consumer spending habits change already, including Everlywell, a company that sells at-home lab testing kits for sexually transmitted infections backed by Lux Capital.
The pandemic made getting it on more difficult for everyone. Many stayed put in an effort to stop the spread of the coronavirus and “flatten the curve,” and they had less sex in isolation, according to a study conducted by sex researchers at the Kinsey Institute at Indiana University.
“I cringe to read the tweets that they’re ‘vaxxed and waxed.’ But this will truly be a seminal summer,” Josh Wolfe, a startup investor and managing partner at Lux Capital, tells Insider.
“People are going to want to express themselves again through