Lauren Picasso | Cure Hydration
LAUREN PICASSO
Founder & CEO of Cure Hydration, a beverage company that offers all-natural, science-backed functional beverages.
What Is Cure Hydration? Tell Us About Your Product And Overall Mission.
Cure Hydration is a functional hydration brand formulated with organic, plant-based ingredients that make you feel good no matter where you are in your health or fitness journey. The drink mix is based on the World Health Organization standard for Oral Rehydration Solution which is proven to hydrate as effectively as an IV drip. Our mission is to empower others to live healthier lives with clean and effective products – from marathon runners to those struggling with chronic illnesses – because hydration, and overall wellness, is crucial for everyone.
New Beverage Brands Seem To Pop Up By The Day. How Does Cure Hydration Differentiate Itself In A Saturated Market Both Online And In Retail Locations?
Most of the electrolyte products on the market still use a base of sugar, synthetic minerals and other artificial ingredients. I wanted to create a product that was effective but that I could feel good about drinking every day. Cure Hydration is the only hydration brand that is both science-backed and plant-based.
With 75% of Americans being chronically dehydrated, we see a massive opportunity to break through with an effective and healthy product. The sports drink and energy market alone is $14.5B and we believe we also have an opportunity to capture the broader hydration market including bottled water and coconut water customers.
What Is Your Background? What Led You To Starting Your Own Company, And How Did You Choose This Space?
I came up with the idea for Cure Hydration when I was training for a triathlon a few years ago and struggled with dehydration. I’d feel dizzy or nauseous after long workouts and always seemed to hit that dreaded afternoon slump. I was drinking plenty of water, but it wasn’t enough to replace the electrolytes I was losing. Unfortunately, every electrolyte product on the market was full of junk so I decided to create a solution that could hydrate effectively but contained only organic, premium ingredients and no added sugar.
Before founding Cure Hydration, I was the Director of Marketing at Jet.com, an e-commerce company that was acquired by Walmart for $3.3B in 2016. There, I worked across a variety of online and offline marketing channels helping to scale the company to over 10 million customers. I was also an early employee of Rent the Runway and have worked for Google, Bloomingdale’s and Ralph Lauren.
What Was The Inspiration Behind The Company Name?
When I discovered Oral Rehydration Solution, it helped me recover from long workouts and it quickly became my “cure” for everything - training, preventing hangovers, altitude sickness, jetlag, and making water less boring. I realized that most of the time when I wasn’t feeling well I was actually just dehydrated.
What Was The Fundraising Process Like For You? Tell Us About Your Investors And What You Use The Money You’ve Raised For.
The fundraising process was unique given the inability to meet with investors face-to-face during the pandemic. That said, I consolidated Zoom calls to quickly narrow down the investors who would be the right fit, and this ended up being much more efficient than meeting in person - like speed dating!
We raised $2.6 million in seed funding and also expanded to 4,200 retail stores nationwide including CVS, Walmart, Whole Foods and Urban Outfitters. The round was led by Lerer Hippeau with additional participation from M3 Ventures, Litani Ventures, Andy Roddick, Nas, Matthew Dellavedova, Philip Krim, co-founder & CEO of Casper, Nick Green, CEO of Thrive Market, and others. The funds will be used primarily for hiring and building brand awareness.
Can You Tell Us About Some Of Your Numbers? How Has Growth Been Over The Past Couple Of Years?
Cure Hydration launched in March 2019 online and has since expanded to over 4,000 stores. Our sales in 2020 were 6x our sales in 2019 and we’ve grown our subscriber base to be 50% of website sales.
Who Are Your Co-Founders Or People Who You Work Very Closely With? How Do Their Skills Supplement Yours?
The core internal team at Cure Hydration includes Morgan Massat, Director of Operations, Christina Allen, Director of Sales and Marketing, and Emily Sklar, Director of Brand Marketing. They are fundamental to the success of the company and I lean on their expertise and creative insights everyday.
I also work closely with the Cure Hydration medical advisory board: Dr. Roshini Rajapaksa (Gastroenterologist, Founder of Tula), Dr. Dana Cohen (MD, General Medicine, Author of “Quench”), Brooke Alpert (Nutritionist, Author of “The Sugar Detox”), and Dr. Guillem Gonzalez-Lomas (Sports Physician at NYU Langone), all of whom provide expert insight into the product and developments.
Last but not least, Caitlin Strandberg, Natalie Sportelli and the team at Lerer Hippeau have been amazing throughout the fundraising process and help provide advice on business strategy and scaling the brand.
What Have Been Both Your Favorite And Least-liked Parts Of Your Entrepreneurial Journey? What Have Been Your Most Challenging And Most Exciting Moments For You And The Company?
My favorite part of the entrepreneurial journey so far is building a product and brand that customers love. When customers reach out to share their stories of how Cure Hydration has helped them through training, pregnancies, chemotherapy treatments, or even simply to drink more water, I am always humbled and inspired by their pursuits.
The downside of starting your own company is that it can be lonely. I worked on Cure Hydration for over 18 months alone and really missed the camaraderie of my early days at Rent the Runway and Jet. It’s important to build a strong support network and surround yourself with other founders.
The most challenging (and exciting) moment for Cure Hydration was getting into 2,900 CVS stores last March which was Cure Hydration’s first big retail launch. This also coincided with the beginning of the pandemic. As a result, figuring out inventory financing and navigating global supply chain issues proved to be difficult but helped us build a more sustainable business in the long-run.
Anything Exciting That Will Be Launching Soon?
Over the course of the next year, we’ll be developing new products across a range of categories to meet the needs of our customer base while staying true to our principles that our products are science backed and organic. We also plan to scale the team and further expand distribution.
How Do You Think Your Industry Will Change Post-COVID?
With the onset of COVID-19 and quarantining at home, people are more mindful about their health. They are focusing on building stronger immunity, eating well, and investing time in self-care - whether that is working out at home or spending more time with the family. Even after the pandemic, we feel these shifts in behavior will stick.
What Are Your Daily Routines? Walk Us Through Your Typical Workday Schedule.
Every morning I take my dog for a walk, grab coffee and drink a Cure Hydration. When I come back I read the news and check emails for an hour or two before getting a workout in. I have weekly 1:1’s and team meetings on Mondays and Thursdays but try to keep Friday meeting-free for everyone to get work done. Outside of internal meetings, most of my time is spent speaking with investors, editors, partners, and other founders. My schedule is usually back-to-back so I try to get off my phone/computer at the end of the day and cook dinner, read a book, or go for a walk.
What Are The Top Three Most Important Skills A Modern Day Entrepreneur Needs In Order To Be Successful? What Advice Do You Have For Entrepreneurs Who Are Just Starting Out?
The top 3 skills for entrepreneurs are resilience, resourcefulness, and communication. As a business owner, you will have to navigate rejection, find ways to grow your business with limited resources, and clearly communicate your vision to new employees, partners, and investors.
My advice for entrepreneurs who are just starting out is to be scrappy. I bootstrapped Cure Hydration for over a year, didn’t take a salary and consulted on the side while I was getting the company off the ground. In the early days, you really have to stay lean because you don’t always find product-market fit right away. If you keep testing, learning, and iterating you’ll eventually get there but you don’t want to invest a lot of capital until then.
Tell Us A Story Of Something That Happened To You That Taught You An Important Lesson.
In April, both of my parents got COVID. My mom’s symptoms were fairly minor but within about a week my dad’s oxygen dropped to 89 and he ended up in the hospital. I found myself waking up in the middle of the night frantically checking my phone for updates on his oxygen levels. Fortunately, my father recovered and although he still has some lingering symptoms 9 months later, I feel incredibly grateful. The experience served as a reminder of not only how serious this disease really is but how life can change in an instant.
If You Can Have A One-Hour Meeting With Someone Famous Who Is Alive, Who Would It Be And Why?
Michelle Obama - she is everything!
Who is Your Role Model?
My father. When I was in college, my dad started a microfinance company in his native country, Peru. Over the course of his journey I have learned many important lessons in entrepreneurship from him as I’ve watched his business grow. Most notably, he taught me the importance of purpose and surrounding yourself with people you admire and respect.
What Do You Do In Your Free Time?
This year especially, I spend a lot of my free time being active and getting outside as much as possible. I run or bike several times a week, take a lot of my calls walking outside and go hiking whenever I can get outside of the city. My fiancé and I have also been cooking a lot and getting into cards. Currently, we’re playing a lot of Gin Rummy!
What Is Your Favorite Quote And Why Does It Resonate With You?
“The cure for anything is salt water - sweat, tears, or the sea” - Isak Dinesen
I couldn’t agree more!
What Does Success Mean To You?
Success to me means feeling fulfilled and living my life with purpose and passion.
Lauren Picasso’s Favorites Stack:
Books:
Educated, by Tara Westover
Unbroken, by Laura Hillenbrand
Scar Tissue, by Anthony Kiedis
Health & Fitness:
Brands:
Consumer Products:
Newsletters & Podcasts:
