DripDrop Secures $5.6 Million in Equity Financing to Accelerate Development and Continue to Drive Availability in Retailers and Hospitals
SAN FRANCISCO, Aug.14, 2014 /PRNewswire/ -- Today, DripDrop, the first great tasting medical-grade rehydration solution, announced that it has closed a $5.6 million round of financing. Investors include funds affiliated with owners of the San Francisco 49ers, Seth Taube of Medley LLC, and legendary American rock musicians Sammy Hagar, Joe Satriani, and Bob Weir of the Grateful Dead.
"We are pleased to support DripDrop, a Bay Area company, in their efforts to speed the delivery of this unique product to multiple audiences," said Brano Perkovich, Managing Director of Aurum Partners LLC, an investment arm of owners of the 49ers. "As owners and managers of a prominent sports franchise, we are able to quickly recognize the potential for this investment."
The new financing will support DripDrop's continued national rollout to retail pharmacies and hospitals, following DripDrop's recent placement on the shelves of more than 100 H-E-B stores, the family-owned retailer with stores in Texas and Mexico. Further national retailers will be announced in the coming weeks, expected to bring DripDrop to the shelves of more than 15,000 retail locations nationwide.
"When Eduardo Dolhun first witnessed the transformative nature of Oral Rehydration Solutions (ORS) in immediately treating dehydration, even he did not recognize how many different communities could benefit from these solutions, " said Doug Wolf, CEO, DripDrop. "Not only will this investment help accelerate DripDrop's availability on retail shelves nationwide, but the funds will also speed delivery to hospitals as a simple and cost-effective replacement for IVs, which are currently in short supply."
Dr. Eduardo Dolhun is a Mayo Clinic trained family physician that developed DripDrop after witnessing the efficacy of ORS during humanitarian efforts abroad. DripDrop is the first great tasting medical-grade rehydration product available to everyone over the counter -- from those who want to maintain hydration levels ongoing, to those experiencing dehydration. Before DripDrop, medical-grade hydration solutions either tasted terrible, or required intravenous delivery. DripDrop's precise ratio of ingredients meets the international health community's standards to treat and prevent dehydration, while maintaining a taste profile similar to a sports drink. It has two to three times the electrolytes and half the calories of most sports drinks, and no artificial colors, flavors, or preservatives.
DripDrop is the first Oral Rehydration Solution (ORS) to combine medical standards of rehydration therapy and excellent taste. Our patented scientific formula improves upon international ORS standards, conforming to proven ratios of salts, sugars, potassium, and other ingredients. DripDrop precisely combines all those ingredients to maximize both taste and efficacy; this golden ratio of ingredients means DripDrop absorbs faster and hydrates better than water and other hydration solutions. DripDrop's innovative formula has been adopted early on by an elite group of users including Stanford University Medical Center, The Mayo Clinic, UCSF Medical Center, leading national pharmacies, US Special Forces, Olympians and top-flight athletes. To find a store location or for more information, visit www.dripdrop.com.