New York, USA-based functional hydration brand Cure Hydration raises USD 5.6 million in Series A. The round took place on April 17, 2023. Lerer Hippeau led the financing for the company. Meanwhile, new and existing investors, including Valedor Partners, Simple Food Ventures, Great Oaks Venture Capital, Joyance Partners, Silas Capital, Kim Clijsters and others, joined in Series A.
Purpose of financing for Cure Hydration
With the latest proceeds from the Series A round, the company seeks to accelerate retail expansion. It also has plans to grow its leadership team.
Meanwhile, the company looks to enhance customer awareness. In addition, it aims to develop new products.
What the company’s founder has to say
CEO and Founder Lauren Picasso said, “In the past four years, Cure has seen explosive growth as consumers look for better-for-you functional beverages that really work and aren’t full of added sugar. Cure is on a mission to create healthy and effective products that provide the ultimate foundation for health and well-being.”
What the investors have to add
Valedor Partners’ Barbara Palmquist further said, “We are excited to partner with Cure, an omnichannel hydration company we believe is poised for breakout growth in the $10 billion functional drink mix market. After only launching in 2019, the brand has quickly gained traction online and in over 15,000 doors. We believe Cure’s high performance is attributable to its outstanding team, especially CEO and Founder Lauren Picasso, whose drive, magnetism and experience bode well for Cure’s future success. We can’t wait to see what Cure accomplishes in the coming years.”
In addition, Caitlin Strandberg, Partner at Lerer Hippeau, said, “We continue to invest in Cure because the team has proved that they can scale beyond direct-to-consumer to become an omnichannel brand with a national footprint. We are excited to see Cure’s continued retail distribution and disruption of the hydration category.”
About the company
In 2018, Founders Alex Sarkissian and Lauren Picasso launched the company. Since its inception, Cure has grown an average of 230% each year. It also expanded its retail footprint to include new retail partners such as Sprouts, Albertsons, Kroger, Stop & Shop, Wegmans and HEB, joining existing accounts, including CVS and Walgreens.
Cure is the only premium hydration brand with a science-backed formula, plant-based ingredients, no added sugar, as well as 4x the electrolytes of leading sports drinks.
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