# Hydration Labs

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/hydration-labs

- Industry: Consumer Products
- Headquarters: Boston, US
- Website: www.bevi.co
- Total disclosed funding: $127M
- Latest round: Series D (Jul 21, 2022)
- Investors on record: 6

## About

Hydration Labs, Inc. specializes in innovative hydration solutions, offering smart water dispensers that provide filtered still and sparkling water, catering primarily to corporate and retail environments.Hydration Labs, Inc. operates under the brand Bevi, which focuses on creating advanced water dispensers. Founded in 2013 in Boston, US, the company has executed 7 deals as of July 2022, when it raised USD 75.21 mn in SERIES D funding from Cowen Investment Management. The company currently has a valuation of USD 230.73 mn. Bevi was co-founded by Eliza Becton and Francisco Rojas, who have a history of entrepreneurial experience in their respective fields.Bevi's primary product offerings consist of innovative office water dispensers, specifically the Standup 2.0, Standup 1.5, and Countertop models. These smart water coolers are designed to provide filtered still and sparkling water, eliminating the need for traditional bottled water. By connecting directly to a building's water source, Bevi's dispensers utilize advanced filtration systems to remove contaminants, ensuring high-quality hydration. The dispensers offer customizable flavor options, with up to 48,000 combinations of flavors and enhancements sourced from high-quality ingredients. Bevi's clientele includes well-known companies such as Apple, Netflix, and Uber, primarily targeting corporate offices, retail settings, gyms, hospitals, and hospitality venues across the United States, Canada, the United Kingdom, and Ireland.Bevi generates revenue through a business-to-business model that facilitates partnerships and subscriptions with its clients. Revenue is derived from the leasing and servicing of its flagship water dispenser products, with clients paying for installation, maintenance, and replenishment services. Each Bevi water cooler is designed for long-term use, and transactions typically include a regular service agreement where Bevi staff conduct monthly maintenance. The pricing structure is designed to offer cost-effective hydration solutions, allowing businesses to provide employees and customers with access to clean, flavored water at low per-use costs, while also reducing reliance on single-use plastic bottles.In July 2022, Hydration Labs, Inc. raised USD 75.21 mn in SERIES D funding, which will be employed to support expansion into new markets and industries. The company plans to explore additional geographic areas and sectors to increase its market presence. Specific new products are under development, but no detailed release dates have been disclosed.

## Funding rounds

- Series D, Jul 21, 2022, $75M — Cowen Investment Management
- Series C, Jan 7, 2019, $36M — Trinity Ventures, Bessemer Venture Partners, Horizons Ventures
- Series B, Jun 28, 2017, $17M — Trinity Ventures, Horizons Ventures, Tamarisc Ventures
- Angel, Oct 1, 2014 — TechU Ventures

## Investors

- TechU Ventures (https://capitalatlas.ai/funds/techu-ventures) — Angel
- Trinity Ventures (https://capitalatlas.ai/funds/trinity-ventures) — Series B, Series C
- Horizons Ventures — Series B, Series C
- Tamarisc Ventures (https://capitalatlas.ai/funds/tamarisc-ventures) — Series B
- Bessemer Venture Partners (https://capitalatlas.ai/funds/bessemer-venture-partners) — Series C
- Cowen Investment Management — Series D