80% of the human body consists of water and every organ, cell, and tissue found in the body is reliant on water to function properly. Yet, 75% of Americans suffer from dehydration. Electrolytes are enhanced charged minerals that are essential in controlling fluid balance (avoiding dehydration), regulating blood pressure, promoting healthy cell function, and avoiding heat stroke. Cure Hydration is the organic, plant-based, and gluten-free hydration powder mix that has 4x the electrolytes of popular sports drinks without the added sugar; the company uses natural, organic coconut water as a base. Offering a wide array of flavors to cater to all preferences including lemon, lemonade, peach, strawberry, lime, and berry pomegranate, the hydration mixes can be purchased directly from the website both with a la carte and subscription options. Cure is also available in 15,000 locations nationwide in popular retailers like Albertson’s, Kroger, Stop and Shop, CVS, and Walgreens. Since launching, the company has grown 230% per annum and was recently named the fastest-growing natural hydration brand by SPINS, a wellness-focused, data-driven consumer insights provider.
AlleyWatch caught up with Cure Hydration Founder and CEO Lauren Picasso to learn more about the business, the company’s strategic plans, latest round of funding, which brings the company’s total funding raised to $8.2M, and much, much more…
Who were your investors and how much did you raise?
We raised $5.6M in Series A funding. The round was led by Lerer Hippeau with additional participation from new and existing investors including Valedor Partners, Simple Food Ventures, Great Oaks Venture Capital, Joyance Partners, Silas Capital, Kim Clijsters, and others.
Tell us about the product or service that Cure Hydration offers.
Cure is a hydrating electrolyte drink mix made with organic coconut water, pink Himalayan salt, and no added sugar.
What inspired the start of Cure Hydration?
As a lifelong endurance athlete, I have always struggled with dehydration. No matter how much water I drank it was never enough to replace the electrolytes I was losing during long workouts. I wanted to create a product that hydrated effectively but wasn’t loaded with added sugar and other junk.
How is Cure Hydration different?
Cure is based on the World Health Organization’s formula for Oral Rehydration Solution that is proven to hydrate as effectively as an IV drip but, unlike other ORS products, we use plant-based ingredients that are non-GMO, sustainably sourced, and have no added sugar.
What market does Cure Hydration target and how big is it?
Our clean ingredients resonate most with active customers that exercise frequently, read nutrition labels and our mindful about what they put in their bodies, or are managing health conditions.
What’s your business model?
We sell Cure direct to consumer on our website and through wholesale partners such as CVS, Walgreens, and Sprouts.
How are you preparing for a potential economic slowdown?
We are laser-focused on driving profitable and sustainable growth.
What was the funding process like?
We were fortunate to have supportive investors on our cap table that wanted to continue to invest in Cure and drive our growth. The round was led by Lerer Hippeau who led our Seed round and our other existing institutional investors all participated. We also were able to bring on new strategic investors such as Valedor Partners, Simple Food Ventures and Joyance.
What are the biggest challenges that you faced while raising capital?
2022 was a difficult year for fundraising with global venture funding down 35% compared to 2021. While the macro landscape was notably more challenging, we were able to raise capital from our existing investor base and bring on new partners excited about mission to create and effective and healthy products that provide the ultimate foundation for health and well-being.
What factors about your business led your investors to write the check?
Cure is the cleanest hydration product on the market which has allowed us to grow quickly and acquire a unique customer compared to our competitors. Since launching in 2019, we’ve grown an average of 230% each year and have expanded to 15,000 stores nationwide.
What are the milestones you plan to achieve in the next six months?
In the next 6 months, we’ll be expanding into new retailers including Albertsons and Kroger and onboarding new team members including our CMO Laura Kendrick.
What advice can you offer companies in New York that do not have a fresh injection of capital in the bank?
It is important to focus on product/market fit as well as your business fundamentals to ensure that your business can scale.
Where do you see the company going now over the near term?
We’ll be rapidly expanding our distribution as well as entering new product categories.
What’s your favorite restaurant in the city?
Bernie’s in Greenpoint.
