Female and BIPOC Founded CBD Skincare Brand Raise $750,000K In Seed Round Funding

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Monica Reese, Summer Rice, Kara Kelly: Founders of Lure

Skincare brand, Lure Life Inc. a luxury, joy producing CBD brand has raised $750,000 in a Seed round of funding supported by a diverse group of investors in the beauty, finance and the consumer-packaged goods sectors. The funding will allow the brand to accelerate market expansion, company growth, marketing and product development of the meticulously designed line.

The investors of this landmark raise were composed of over 50 percent women and is of further note since the brand is majority Black-owned and signifies triumph over the clear racial inequities in ownership in the cannabis business. Although funding for Black entrepreneurs has reached an all-time high in the past five years, it still represents just 1.2 percent of the record $147 billion in venture capital invested in the U.S.

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