Cornbread Hemp announced the successful closing of a seed round of fundraising. The Kentucky-based company marked the occasion by sharing news that they have also acquired their processing and manufacturing partner to become vertically integrated.
Since its founding in 2019, Cornbread Hemp has seen exponential growth, projecting more than $20 million in revenue for 2023, due to the success of their CBD gummies. The company has also been a job creator in the local economy, increasing its staff from just two employees in 2019 to more than 30 in 2023.
"The cornerstone of our growth is our industry-defining standards," said Eric Zipperle, co-founder and Chief Executive Officer of Cornbread Hemp. "As customers become more educated on the topic, they are demanding high quality products, not just convenience. They want USDA organic, full spectrum CBD, and they want to know where it's coming from."
By acquiring their hemp processor, Cornbread Hemp now has full control of their supply chain as one of the only CBD brands in America to become vertically integrated.
"This is a step towards realizing our vision of setting the gold standard for hemp and cannabis," said Jim Higdon, co-founder of Cornbread Hemp. "We want our customers to experience peace of mind, knowing exactly where their hemp was grown, how their CBD products were made, and that those products were made with the highest commitment to safety and quality."
As a testament to the company's premium products, more than 50,000 American households have welcomed Cornbread Hemp products into their lives as a reliable tool to help address their self-care needs or those of a loved one.