Plant-based functional beverage maker WellWell has closed a $3.9 million Series A funding round led by Sweat Equities, th...
Problem
Burnout has reached astronomical levels and it's killing us
Prolonged stress comes with a slew of health issues ranging from physical to psychological.
The overwhelming majority (76%) of people experience burnout at work (Gallup).
More than 33% of Americans have displayed clinical signs of anxiety, depression, or both since the coronavirus pandemic began (Pew Research)
Nearly 43% of all adults over the age of 20 in the U.S. – about 93.3 million people – are currently obese (CDC)
68% of Americans struggle to sleep at least once a week causing 41% of people use over-the-counter sleep aids several times a week (Consumer Reports).
Solution
Science-backed recipes formulated for holistic recovery
Burnout, stress, and exhaustion take a toll on our health in more ways than one. We see the effects in our sleep schedule, workouts, diets, output at the office and more.
WellWell is here to help combat burnout from all angles.
We take recovery seriously and have developed 7 beverages with effective doses of powerful ingredients.
Real Functional Benefits: We use effective doses of powerful ingredients so you actually feel a difference.
Minimally Processed: WellWell is made fresh and bottled without preservatives unlike many competitors.
Quality Ingredients: Our drinks feature real, clean, organic and non-GMO ingredients to fuel your body with the best.
Product
Functional beverages that actually function
WellWell is informed by science. Our drinks deliver effective doses of functional ingredients to help you tackle all of life’s challenges from a hard workout to a hangover to a sleepless night.
- WellWell is made fresh and stays refrigerated 100% of the time.
- We use bottles made from 100% rPET (already recycled plastic), which helps create a market for using recycled plastic and pushes everyone toward sustainability.
- All drinks are certified non-GMO, certified Kosher, gluten-free, plant-based, low sugar, and non-dairy.
Traction
800+ Points of Distribution Including Walmart, HEB, Whole Foods, Kroger, Erewhon, Fresh Direct, and more.
Featured Organic Press
WellWell’s science-backed, plant-based drinks have been picked up by a number of media outlets—and even named one of the “best ready-to-drink protein shakes” by GQ Magazine.
Customers
We've generated massive social media impact with thousands of pieces of user generated content
WellWell has grown an obsessed following of loyal customers who also act as brand ambassadors to spread the word to friends, family, and across their social networks.
Hospitality and exceptional customer service is in our blood, which has driven tons of engaging conversation with customers on Instagram:
Business model
We meet our customers where they are
WellWell is for the people. We're not "too cool" or "exclusive"—we're for everybody.
Market
Perfectly positioned within 3 hot, growing markets
With an increased demand due to health priorities during the Covid-19 pandemic, our market is forecasted to witness a CAGR of 8.66% between now and 2024.
Everyone is Craving Plant Protein, Not Just Vegans
- Consumers are focused on adding more protein to their diets—WellWell is positioned to give people the satiating boost they seek when on-the-go.
- Protein drinks are a fast-growing segment within the beverage industry, and is expected to surpass $40B+ by 2024.
- Younger consumers in particular are adding more plant-based foods to their diets, and this is likely to continue along with the growth in awareness of the environmental impact of food and drink choices.
WellWell Maps to Functional Attributes Wanted by Consumers
Sugar is the Enemy
- People are seeking low sugar options like WellWell—80% of 23,000 people surveyed by FMCG Gurus said they planned to reduce their sugar intake to be more healthy due to Covid-19.
Adaptogens and Nootropics are on the Rise
- Offering the highest functionality, consumers are seeking out Adaptogens and Nootropics like those used in WellWell as they become more familiar with the benefits the offer
Competition
Innovating the functional beverage category with recipes backed by science
WellWell is lower in sugar, made with cleaner ingredients, and tastes better than the competition.
Many beverage brands are stuck in the past. As a more holistic approach to health became essential to combat the stress modern life, people simultaneously became interested in beverages that were natural and clean.
Traditional, old brands like Gatorade and Muscle Milk missed the memo.
- WellWell was co-founded by a medical doctor.
- Unlike other functional drinks on the market, our recipes are informed by science.
- We use only real doses of functional ingredients which makes our products actually work to help you sleep, speed up muscle recovery, focus better at work, and more.
Vision and strategy
Profitable Retail Expansion and Scaling Direct-to-Consumer
The beverage space is extremely capital intensive and most brands raise a lot of money without ever becoming profitable—primarily due to hiring large, unnecessary teams, and spending way too much on marketing without using data to guide decisions.
We Have a Different Approach
- We have a super lean operating team
- We only work with retail partners that don't force brands to pay crazy amounts for shelf space
- We leverage regional distributors and sales teams that are highly vetted by beverage founders
- We're data driven in our decision making
The Next 12-18 Months
- Focus on direct-to-consumer
- Product line expansion (R&D in process)
- Deep strategic supply chain partnership (in process)
- Further reduction in COGS
- Continued retail expansion with existing partners (Walmart, Kroger, Whole Foods) and new major retailers (i.e. Publix, Meijer, etc).
Funding
$4,525,000 already raised
Our current investors are experienced founders and industry experts, offering WellWell strategic guidance, hands-on help, and strong industry relationships.