Buoyed by the growth of the CBD industry and America's increasing anxiety during the Covid-19 pandemic, Chicago startup Equilibria is taking off with women who are turning to the company for help with anxiety, sleep and pain relief.
Equilibria, founded last year by Coco Meers and Marcy Capron Vermillion, has grown an average of 20% month-over-month this year as more customers are requesting the startup's CBD products and its "dosage specialists" who provide 1-on-1 consultations to help users understand how much CBD to take and other personalized support, Meers said.
Meers, who previously founded on-demand salon scheduling app Pretty Quick, which sold to Groupon in 2015, said the uncertainty of the coronavirus, along with added pressures of parenting while working from home, have caused an increase in demand for the startup's offerings. The company says it has grown 20X since last July.
Equilibria set out to design CBD products specifically tailored to women. The company sells CBD gels, oils and creams that are designed to help women sleep better, feel less anxious sleep and provide menstrual cramp relief, among other benefits.
"CBD and women are really a perfect pair," Meers said, citing how CBD interacts with a woman's endocannabinoid system and the autoimmune diseases that disproportionally affect women. Women with endometriosis and PCOS are also turning to the startup for relief, Meers said.
Earlier this year the startup raised $2 million in a seed round from Salveo Capital and Hyde Park Angels. The startup sources its CBD, which contain elements of cannabis that don't give users the high associated with marijuana, from an organic farm in Colorado.
Equilibria is among a crowded field of CBD companies that have launched in recent years. Just this week Martha Stewart launched her own line of CBD products, and as of last month there were about 3,000 different CBD brands, according to consumer research firm Brightfield Group.
But Equilibria believes that by specifically targeting women with products and individualized support, it can carve out a niche in an industry that's expected to generate $4.75 billion in sales this year.
"The world does not need just another CBD company; we were very aware of that when we created this business,” Meers said. “At Equilibria, we firmly believe in helping women achieve balance in their lives."
