Future State Brands (FSB), a Los Angeles, CA-based consumer goods and marketing holding company, raised $25m in funding.
Dallas-based Cresco Capital led this latest funding round, bringing the total investment in Future State Brands to $25m.
The company intends to use the capital to develop innovative products, make acquisitions and build brands that resonate with their desired target consumer.
Led by PRØHBTD CEO and Founder Drake Sutton-Shearer, Future State Brands oversees a portfolio of THC, Hemp and CBD brands.
The company’s current portfolio includes:
– hemp beauty line Hempathy;
– functional beverage platform Ceeby Dee’s;
– art-centric infused wearables The Patch Co.; and
– music-driven flower brand Heavy Grass.
As part of its overall strategy, FSB recently acquired a majority interest in premium hash brand Hot Nife, and are now working directly with founder Circe Wallace to reintroduce the brand to the market.
Key strategic partnerships include Beanstalk Licensing Agency, Licensing Expo Trade Show, RONIN, Advertising Week, MDDN, Postmedia, and Regulated Solutions.
Its flagship icon PRØHBTD recently launched a new website at www.prohbtd.com which integrates content and eCommerce with the brand expanding beyond its digital footprint into cannabis and street style consumer products in 2020.
In addition to Sutton-Shearer, a number of PRØHBTD executives will transition into new roles under Future State Brands, including Chief Financial and Operating Officer, Frank Carrère, Chief Brands Officer, Craig Binkley, Chief Business Officer, Kieve Huffman, Senior Vice President of Marketing, Glenn Frese and Senior Vice President of Finance, Shannon Holtzman.
Future State Brands has also made new senior hires including
– Marianna Burchfield, as Vice President of Consumer Brands, joins with more than 15 years of CPG marketing and innovation experiences across leading multinationals, such as Starbucks, L’Oréal, Ferrero US and Johnson & Johnson.
– Seychelle Bradley, as Vice President of Consumer Brand Sales, brings her global sales expertise in green beauty, cosmetics and personal care to the role, having been instrumental in the growth of high-end natural beauty brand Odacité Skincare.
– Danny Rhodes, as Vice President of Design, is responsible for executing all aspects of FSB’s creative needs. His prior roles include Creative Director at the Dupuis Group where he led groundbreaking work on behalf of clients such as PepsiCo/Frito-Lay, Patagonia Provisions, Nestle, Campbell’s and more.
– Luc Doucedame, as Senior Design Director, comes with 12 years of experience crafting impactful strategies and experiences across digital, advertising, and brand design/packaging for brands including P&G, Apple, House Beer, The Honest Company, Verve Coffee, Fred Segal, PacSun, Google and Esquire.
– Samantha Fiock, named as Director of Consumer Brands, brings with her ten years of beauty experience. Sam managed global innovation for Dermalogica and she led all agency initiatives at HATCHBEAUTY Brands, working with clients such as Dollar Shave Club, eSalon and Robin McGraw.