Cannabis holding corporation Future State Brands Launches with $25 million in funding
Los Angeles, CA September 19, 2019: Future State Brands (FSB), announces nowadays the launch of a customer goods and marketing and advertising holding corporation led by PRØHBTD CEO and Founder Drake Sutton-Shearer. Future State Brands oversees a developing portfolio of THC, Hemp and CBD brands reinforcing the company’s mission to take cannabis from the black market place to the supermarket.
Possessing spent practically six years in the cannabis market creating PRØHBTD, Sutton-Shearer is supported by a group with verified mainstream CPG encounter and specialist knowledge in THC, hemp and CBD.
I’m excited to move into this subsequent phase of our journey with a crystal clear vision of our preferred future state. Despite the fact that brands is the automobile to get us there, it can’t be accomplished without the need of an extraordinary group, accessible capital and most of all, an understanding of the buyer we are creating for.
CEO Drake Sutton-Shearer
The existing Future State Brands portfolio contains hemp beauty line, Hempathy, functional beverage platform, Ceeby Dee’s, art-centric infused wearables The Patch Co., and music-driven flower brand Heavy Grass. The company’s flagship icon PRØHBTD not too long ago launched an all-new immersive web-site at www.prohbtd.com which integrates content material and eCommerce with the brand expanding beyond its digital footprint into cannabis and street style customer solutions in 2020.
Dallas-primarily based Cresco Capital led this most recent funding round, bringing the total investment in Future State Brands to $25 million.
The Cresco Capital group is excited to companion with Future State Brands, and we see fantastic prospective in their expansion into the customer packaged goods space. We have had a longstanding partnership with Drake and his group and trust his extended-term economic and inventive vision.
Matt Hawkins, Managing Companion at Cresco Capital
This most recent funding enables the corporation to create revolutionary solutions, make acquisitions and construct market place-top brands that resonate with their preferred target customer. As aspect of the company’s all round approach, FSB not too long ago acquired a majority interest in premium hash brand Hot Nife, and are now functioning straight with founder Circe Wallace to reintroduce the brand to the market place.
“Having navigated the California cannabis landscape for 3 years now, it is increasingly clear how vital it is to have a strong group and sources to succeed. Getting a aspect of the wonderful group at Future State Brands guarantees we will not only survive, we will thrive.” Wallace mentioned.
Future State Brands will also advantage from a deeper integration with strategic marketing and advertising partners Joel, Benji and Josh Madden who are thriving entertainment entrepreneurs and cultural trend spotters.
“As partners with Drake and the group at PRØHBTD for the previous couple of years, we appear forward to the continuation of our perform collectively at Future State Brands by supplying our insights and hands-on encounter across the pop & sub-culture spectrums,” mentioned Joel, Benji and Josh Madden.
In addition to Sutton-Shearer, a quantity of PRØHBTD executives as will transition into new roles below Future State Brands, such as Chief Monetary and Operating Officer, Frank Carrère, Chief Brands Officer, Craig Binkley, Chief Company Officer, Kieve Huffman, Senior Vice President of Promoting, Glenn Frese and Senior Vice President of Finance, Shannon Holtzman.
Future State Brands has also produced new senior hires to assistance the company’s efforts.
Marianna Burchfield, as Vice President of Customer Brands, joins with much more than 15 years of CPG marketing and advertising and innovation experiences across top multinationals, such as Starbucks, L’Oréal, Ferrero US and Johnson & Johnson.
Seychelle Bradley, as Vice President of Customer Brand Sales, brings her worldwide sales knowledge in green beauty, cosmetics and individual care to the function, getting been instrumental in the development of higher-finish all-natural beauty brand Odacité Skincare.
Danny Rhodes, as Vice President of Design and style is accountable for executing all elements of FSB’s inventive demands. His prior roles consist of Inventive Director at the Dupuis Group exactly where he led groundbreaking perform on behalf of clientele such as PepsiCo/Frito-Lay, Patagonia Provisions, Nestle, Campbell’s and much more.
Luc Doucedame, as Senior Design and style Director, comes with 12 years encounter crafting impactful approaches and experiences across digital, marketing, and brand style/packaging for brands such as P&G, Apple, Home Beer, The Truthful Business, Verve Coffee, Fred Segal, PacSun, Google and Esquire.
Samantha Fiock, named as Director of Customer Brands, brings with her ten years of beauty encounter. Sam managed worldwide innovation for Dermalogica and she led all agency initiatives at HATCHBEAUTY Brands, functioning with clientele such as Dollar Shave Club, eSalon and Robin McGraw.
FSB Licencing agency companion Beanstalk (an Omnicom agency) will be mainly focused on brand extension possibilities across numerous categories that expand the company’s footprint at not only mainstream retail, but also in collaboration with like-minded companies and brand partners about the planet.
The corporation will also perform closely with the newly-announced content material solutions agency, RONIN. Made in partnership with PRØHBTD co-founder and Chief Content material Officer, Joshua Otten, and rapper and Cookies entrepreneur, Berner, RONIN delivers customized content material production and video distribution solutions for cannabis and hemp brands.
About Future State Brands (FSB)
Future State Brands is a worldwide customer goods and marketing and advertising corporation with a mission to lead cannabis from the black market place to the supermarket. Our portfolio at the moment contains life-style and wellness brands across hemp, CBD and THC such as flagship icon PRØHBTD, Hot Nife, The Patch Co., Heavy Grass, Hempathy, and Ceeby Dee’s.
Crucial strategic partnerships consist of Beanstalk Licensing Agency, Licensing Expo Trade Show, RONIN, Marketing Week, MDDN, Postmedia, and Regulated Options.
Future State Brands is headquartered in Los Angeles and backed with $25M in funding from prominent cannabis and mainstream investors.