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Hydration startup Drip Drop Inc. raises 2.3 million in just 10 days
Date:7/12/2013

SAN FRANCISCO, July 12, 2013 /PRNewswire/ -- Only 10 days after announcing a $3 million Series A-1 financing round, Drip Drop Inc., inventor of medical grade hydration products, has executed the initial close on $2.3 million from a group of investors led by Pacific Advantage Capital, with the round closing July 29th. New funds will be used to add key personnel and scale the company's operating infrastructure, supporting an expansion of leading hospital and pharmacy distribution. The close comes just weeks into Anne Kallin Zehren's tenure as CEO.

Drip Drop® is an innovative rehydration solution that combines best-in-class medical technology with great taste. Developed by Eduardo Dolhun MD, a Mayo trained physician and Stanford Adjunct Assistant Clinical Professor, Drip Drop's formula helps prevent dehydration, maintain electrolyte balance, and replenish fluids lost through illness or activity.  Tested worldwide in the most challenging circumstances, Drip Drop® has won early adoption by a broad spectrum of users that include the Stanford University Medical Center, UCSF Medical Center, elite athletes, U.S. Special Forces, humanitarian workers, pharmacists, and patients with chronic illness.

"This investment allows us to continue fast-tracking our work with the country's top medical institutions, retailers, and influencers," said Zehren, who started at Drip Drop in April. "It speaks volumes about Drip Drop's potential that 78% of this round came so quickly from our existing shareholders - a full 75% of them reinvested, with the vast majority increasing their investment level. In my 20 years as an executive, it's absolutely rare to find a startup with such promise at such an early stage."

"With Anne's leadership, the Drip Drop team is driving terrific performance," said David Zezza, partner at Pacific Adva
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SOURCE Drip Drop Inc.
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