Apr 24, 2023

Cure – a functional hydration brand – announced $5.6 million in Series A funding and retail expansion to 15,000 stores nationwide, further cementing the brand as a key player in the $10 billion functional drink mix market. This funding 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. Cure will utilize the funding to accelerate retail expansion, grow its leadership team, enhance customer awareness, and develop new products. Since launching in 2019, Cure has grown an average of 230% every year and expanded its retail footprint to include new retail partners like Sprouts, Albertsons, Kroger, Stop & Shop, Wegmans and HEB, joining existing accounts including CVS and Walgreens. In the past 12 weeks, Cure had grown 316% in the Natural channel compared to the overall category growing at 19.5%, making Cure the fastest-growing natural hydration brand, according to SPINS. Known as the only female-founded electrolyte brand – which is also majority women operated and has an all-female medical and nutritional advisory board – Cure is also the recipient of a 2022 Fitness Award from Women’s Health magazine, and counts Gwyneth Paltrow, Ashley Graham, Brooklyn Decker, and Miranda Kerr among its many celebrity fans. Cure – which is on a mission to empower others to live better and healthier lives – is uniquely positioned to capture a major portion of the $10 billion functional drink mix market by creating science-backed wellness products with clean, effective ingredients at affordable prices. And its plant-based electrolyte powders are based on the World Health Organization’s ORS formula, but unlike other ORS formulas, its ingredients are non-GMO, sustainably sourced, and have no added sugar or erythritol. Plus Cure also launched new electrolyte flavors earlier this year including Lemonade and Strawberry Kiwi, and introduced a new bulk jar format. Cure is continuing to add industry veterans to its leadership team, announcing recently that the company has brought on Laura Kendrick as their Chief Marketing Officer, formerly at Highline Wellness and SmartyPants Vitamins, and Stacey Gillespie as their VP of Innovation, formerly Ora Organic and Gaia Herbs. Cure is backed by a medical advisory board that includes Dr. Roshini Raj, Dr. Dana Cohen, and Brooke Alpert and is FSA/HSA Eligible. And in just over 4 years, Cure has expanded to over 15,000 retail stores nationwide including CVS, Walgreens, Albertsons, and Sprouts. KEY QUOTES: “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.” Lauren Picasso, CEO and founder at Cure Hydration “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.” Valedor Partners’ Barbara Palmquist “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.” Caitlin Strandberg, Partner at Lerer Hippeau Trending on Pulse 2.0