NEW YORK — Cure Hydration has raised $5.6 million in Series A funding to support retail expansion. The company’s line of electrolyte drink mixes is rolling out to 15,000 stores nationwide.
Taking aim at the $10 billion functional drink mix market, Cure is formulated with coconut water, pink salt, citric acid, lemon juice powder, sodium citrate, organic stevia extract, monk fruit extract, fruit juice powder and organic flavors. The products are sold online and in Sprouts, Albertsons, Kroger, Stop & Shop, Wegmans, HEB, CVS and Walgreens.
“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,” said Lauren Picasso, founder and chief executive officer of Cure Hydration. “Cure is on a mission to create healthy and effective products that provide the ultimate foundation for health and well-being.”
In addition to accelerating retail growth, the company will use the funding to build its leadership team, enhance brand awareness and develop new products. Laura Kendrick, formerly of Highline Wellness and SmartyPants, has joined the company as chief marketing officer, and Stacey Gillespie, previously with Ora Organic and Gaia Herbs, was named vice president of innovation.
The Series A round was led by Lerer Hippeau with participation from Valedor Partners, Simple Food Ventures, Great Oaks Venture Capital, Joyance Partners, Silas Capital, Kim Clijsters and others.
“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,” said Caitlin Strandberg, partner at Lerer Hippeau. “We are excited to see Cure’s continued retail distribution and disruption of the hydration category.”Enjoying this content? Learn about more disruptive startups on the Food Entrepreneur page.
