The sextech industry is going to sizzle this summer. Here’s the reason behind the boom

You may not be that familiar with companies in the sextech industry, but after a year of quarantining, lockdowns, and Zoom dating you can bet that they will be all the rage as we enter a ‘hot vax summer.’

What is sextech?

Sextech is a type of technology designed to help improve and enhance human sexuality. According to an article from Pando, by 2024 this industry is predicted to be worth more than $122 billion and the world will see a lot of that projected growth this summer.

After Covid-19 began to spread, most nightclubs and other venues for singles shut down, leaving single men and women quarantining separately.

As the focus was primarily aimed at suffering companies, small sexual health startups quickly found their place among the pandemic. Here is a rundown of some of the notable ones.

Have you heard of Cake? 

For example, the sexual health and wellness startup Cake quickly became inundated with online orders for coconut oil moisturizing cream made exclusively for men, if you know what I mean. The coconut oil cream was their top seller out of all their other sexual health products. 

Covid-19 not only stopped people from going to public places, but it also significantly decreased the amount of intercourse adults were having. This belief was solidified by a study conducted at the Kinsey Institute at Indiana University.

Now that nearly half of Americans have received their initial dose of the vaccine, people are starting to engage in the activities they enjoyed pre-covid. While many Americans are still uncomfortable about meeting a stranger who may have Covid-19, many are turning to sextech startups as a way to protect themselves as they meet other singles again. 

Sextech startups and wellness companies are optimistic about the upcoming summer. They have started to stock the shelves with birth control products, lingerie, home lab testing kids for sexually transmitted infections, and other sexually related items. 

Introducing Everlywell

Everlywell, a digital health startup, is a company that is quickly making a name for itself in the sexual wellness industry. They developed an at-home test kit for people who want to know about STIs for less than a $20 a month subscription.

Everlywell has also profited off the pandemic due to the at-home Covid-19 test kit they manufacture and sell regularly. With a wide range of at-home test kits from food sensitivities to thyroid testing, the sexual health side of the business has quickly outpaced every other product.

The company has seen a rise in the STI test kits and the Covid test kits, and they may be being used in conjunction with each other. Singles may be ensuring they are sexually and physically healthy before they venture out to the bar.

For Nurx, business is booming

Another sextech company, Nurx, owns the birth control delivery market. In addition to birth control, they sell acne treatments, STI testing kids, and Covid-19 tests. These products have seen a sharp increase in demand as people prepare to venture back out into society.

Parade in your underwear?

Parade is an up-and-coming sextech startup that offers underwear and bracelets that are candy-colored. With a focus on sustainability and inclusivity, the company has seen a significant increase in sales and revenue. 

Parade uses ultra-soft recycled fabric to create carbon-neutral underwear that caters to the younger generation’s desire for sustainable products. Founded by 23-year-old Cami Tellez, she tells us that customers are focused on style now more than ever. Consumers are concerned about the appearance of their underwear, implying that they are meant to be seen rather than hidden beneath clothing.

Removing the common stigmas

As uncomfortable as I initially was to write this article, I quickly realized that the stigma surrounding sexual health and wellness is dissipating. It’s no longer taboo to talk about our sexual health, and investors are taking note.

Several startup venture-backed companies have seen a dramatic increase in funding. Dispea, a company that founded an erotic audio app, has received $5.4 million in funding since it began.

Lover, another company focused on improving sexual connections between partners by offering personalized suggestions for better sex, has received $4.9 million in venture backing.

Finally, Dame Products, a startup for sex toys, recently pulled in $4 million from backers.

While the sextech industry may still be uncomfortable to talk about in certain circles, the industry is certainly booming and not going away anytime soon.