The CBD industry continues to grow. This trend makes sense as more are learning about this hemp-related product and use it within their lives to minimize their stress or decrease anxiety. They may use it for a variety of other reasons as well.
Firms are taking notice of this rising demand for CBD products and are raising resources, funding ideas, and building out ventures to create compelling CBD products that make a difference in consumers’ lives.
At the very least, they are jumping in on the trend and ensuring to get involved early on to build out their brand and generate more revenues each year. The latest venture to join the CBD fray is Beam. Here is what you need to know about Beam.
The Beam HQ
Beam is a firm that is found in the northeastern city of Boston. It dubs itself as a CBD wellness firm that will stay within Boston and provide quality CBD products to its customers.
Who are the Founders and Partners of Beam?
The founders of Beam include Matt Lombardi and Kevin Moran. They have been able to raise over $4 million for their CBD brand in a Series A funding event.
One of the key funding firms within the series A round was C2 Ventures.
C2 Ventures is a funding firm that seeks to maximize investments by supporting founders throughout the entire journey instead of funding one round and moving on to other companies. But the funding firm wants to offer more than simple cash funding. They seek to offer advice, overall expertise, and operational talent to help boost an organization’s success. The funding firm uses its time, overall experience, and LP Operator Bench of various company builders and technology leaders to develop companies out to their full potential.
C2 Ventures seems like a great partner to have onboard as the firm has had several portfolio companies that have made exits with large brands that range from Adobe to Spotify. That means that the decision making process of C2 Ventures should yield several dividends for Beam over time. C2 Ventures has been involved with Beam since the start of the Beam corporation.
Did you know that Beam raised over $10 million over the course of its existence? That shows that more sophisticated players are seeking to increase the value of the CBD industry over time.
Beam Will Use Funds to Grow
Beam will use its cash reserves to build out operations, increase its infrastructure, and begin marketing operations for divisions like Elevate. They first started the company in 2018 with topicals and are slowly growing it out to other areas. It looks like funders see the growth of the organization and want to be for the journey as it grows even further.
You can take advantage of powders, oils, and even capsules to aid in a variety of aspects that range from sleep to recovery.
It is interesting to see that this is a company with sports professionals as the founders. That fact may add some integrity to the lineup of products and genuinely deliver components that help with sleep, recovery, and performance.
“The world changed and it’s very stressful,” noted Lombardi. “People aren’t sleeping well and CBD helps you get back to balance. We’re fortunate to help people having trouble with sleep and anxiety.”
These Beam products range from a price of $50 to $120 and usually come with a monthly subscription.
One important point to note is that Beam explicitly states that none of these products is intended to cure or treat any diseases.