Good Beverages, Inc. dba heywell

Cover Block

Attribute	Value
Name	Good Beverages, Inc. dba heywell
Tagline	Functional sparkling waters with adaptogens for wellness
Headquarters	Chicago, IL
Founded	2019
Stage	Seed
Business Model	Direct-to-Consumer (DTC)
Industry	E-commerce / Retail
Technology	No Technology Component
Geography	North America
Growth Profile	Venture Scale
Founding Team	Co-Founders (2)
Funding Label	Seed (total disclosed ~$950,000)

Links

• Website: https://livingheywell.com/
• LinkedIn: https://www.linkedin.com/company/heywell

What an Investor Needs First

heywell is a seed-stage challenger in the functional beverage category, combining CPG distribution experience with a focus on adaptogens. The company produces low-sugar, organic sparkling waters infused with adaptogens, electrolytes, and organic caffeine, targeting wellness-conscious consumers through a direct-to-consumer and select retail strategy [Perplexity Sonar Pro Brief, 2023]. The founding team, Ashley Selman and Britt Dougherty, met at MillerCoors and bring over 25 years of combined beverage industry experience [Perplexity Sonar Pro Brief, 2023].

Financing has been incremental, with a total disclosed raise of approximately $950,000 from a mix of venture funds and a Republic crowdfunding campaign [Republic, 2023]. The company's 2023 revenue was projected at $3.5 million on its crowdfunding page [Republic, 2023]. Over the next 12-18 months, key watchpoints are the validation of revenue claims, the scalability of the retail footprint beyond the current 3% ACV distribution in specialty grocers, and the ability to secure a larger institutional round to fund national expansion.

Data Accuracy: YELLOW -- Key operational and financial claims stem from a single crowdfunding page; founder backgrounds corroborated by multiple business publications.

Taxonomy Snapshot

Axis	Classification
Stage	Seed
Business Model	Direct-to-Consumer (DTC)
Industry / Vertical	E-commerce / Retail
Technology Type	No Technology Component
Geography	North America
Growth Profile	Venture Scale
Founding Team	Co-Founders (2)
Funding	Seed (total disclosed ~$950,000)

Inside the Company

Good Beverages, Inc., operating as heywell, was founded in 2019 by Ashley Selman and Britt Dougherty, two executives who met while working at MillerCoors [Bizwomen, 2019]. The company is headquartered in Chicago, Illinois, and positions itself as a women-owned wellness beverage brand [US Chamber of Commerce]. The founding narrative emphasizes the pair's combined 25 years of consumer packaged goods and beverage experience [Perplexity Sonar Pro Brief, 2023].

Key milestones follow a traditional CPG launch trajectory. The company secured its first institutional seed investment from Mastersfund in 2022 [BevNET, 2022]. A subsequent funding round of $950,000 was raised via Republic's crowdfunding platform in 2023, which also served as the source for a $3.5 million revenue projection for that year [Republic, 2023]. In 2024, heywell announced Alethia Venture Partners as the lead investor in its first strategic funding round [BevNET, 2024]. Retail distribution has been established in select upscale grocery chains including Foxtrot, Erewhon, and Central Market [Perplexity Sonar Pro Brief, 2023].

Data Accuracy: YELLOW -- Foundational facts are confirmed by multiple business publications. Financial and distribution metrics are sourced from a single crowdfunding page and a third-party brief.

Under the Hood

heywell's product is a line of functional sparkling waters. The core proposition is wellness through adaptogens, a class of botanicals marketed for stress relief and balance. According to the company's website, the beverages are “delicious sparkling adaptogenic waters” designed to support energy, hydration, and calm [heywell]. Public descriptions specify they are low-sugar, low-calorie, organic, non-GMO, gluten-free, dairy-free, and vegan, incorporating ingredients like organic caffeine, electrolytes, and antioxidants [Perplexity Sonar Pro Brief, 2023].

The technology component is minimal, as the business model is classic CPG manufacturing and direct-to-consumer (DTC) e-commerce. The primary technological surfaces are the e-commerce website and digital marketing stack. There is no public indication of proprietary manufacturing processes, patented formulations, or a significant data/software layer.

Product distribution has expanded into physical retail. The company has achieved placement in select regional and specialty grocery chains, including Foxtrot, Erewhon, Central Market, Plum Market, and Fairway, representing an estimated 3% ACV (all-commodity volume) distribution as of a 2023 projection [Perplexity Sonar Pro Brief, 2023].

Data Accuracy: YELLOW -- Product claims are consistent across the company website and a third-party brief, but specific formulation details and the ACV metric are from a single aggregated source.

Market Research and Opportunity

The functional beverage category's growth is driven by a sustained consumer pivot toward products that promise tangible wellness benefits beyond basic hydration.

The global functional beverage market was valued at approximately $131 billion in 2022, with a projected compound annual growth rate of 6.2% through 2030 [Grand View Research, 2022]. Within this, the sparkling water segment represented a market size of roughly $33 billion globally in 2021 [Fortune Business Insights, 2021]. The broader wellness market is estimated to be worth over $1.5 trillion globally [Global Wellness Institute, 2020].

Demand drivers include the mainstreaming of adaptogens and nootropics, coupled with a persistent consumer preference for low-sugar, low-calorie beverage options. The direct-to-consumer and premium retail expansion models have lowered barriers to entry for new brands.

Key adjacent and substitute markets include traditional energy drinks, vitamin-enhanced waters, and ready-to-drink teas and coffees. Regulatory forces are a constant consideration; the U.S. Food and Drug Administration (FDA) regulates structure/function claims on food and beverage labels.

Data Accuracy: YELLOW -- Market sizing figures are drawn from analogous, broad industry reports; specific segmentation for the adaptogenic sparkling water niche is not independently verified.

Competition and Substitutes

heywell enters a functional beverage category defined by its fragmentation. The competitive map can be segmented into three tiers: direct functional water rivals, larger beverage companies with wellness-adjacent lines, and mass-market hydration brands.

Metric	Value
heywell	$0.95M
Recess	$25M
Bawi	$1.5M
Prime Hydration	$450M
Vita Coco	$1,200M

Company	Positioning	Stage / Funding	Notable Differentiator
heywell	Low-sugar, organic sparkling water with adaptogens for holistic wellness.	Seed (~$950k disclosed).	Founder-led CPG pedigree and focus on adaptogen blends.
Recess	Sparkling water infused with hemp extract and adaptogens for mood enhancement.	Series A ($25M raised).	Early brand leader with strong DTC and social media presence.
Bawi	Adaptogen-infused sparkling water targeting stress relief and focus.	Seed ($1.5M raised).	Direct-to-consumer model with subscription focus.
Prime Hydration	Electrolyte and BCAA-infused drink marketed for hydration and energy.	Venture-backed ($450M valuation).	Massive Gen Z following and influencer-driven marketing scale.
The Vita Coco Company	Plant-based hydration (coconut water) with added functional ingredients.	Public (Market Cap ~$1.2B).	Dominant retail distribution and brand recognition in natural hydration.

heywell’s current defensible edge rests on the founders' operational experience. Ashley Selman and Britt Dougherty’s combined 25+ years in CPG, specifically at MillerCoors, provides a tangible advantage in navigating broker relationships, securing shelf space, and managing supply chain logistics [Perplexity Sonar Pro Brief, 2023].

Data Accuracy: YELLOW -- Competitor funding and positioning drawn from PitchBook and Tracxn. heywell's differentiation and distribution claims are from a single aggregated source [Perplexity Sonar Pro Brief, 2023].

Opportunity

If heywell can translate its founders' CPG expertise into a breakout brand, the prize is a durable, high-margin position in the $10 billion functional beverage category.

Scenario	What happens	Catalyst	Why it's plausible
National Grocery Anchor	heywell becomes a core SKU in the sparkling water aisle of a major national grocery chain.	A successful regional test in a chain-owned banner proves velocity and incremental sales.	Founders' deep CPG and retail experience from MillerCoors provides the relationships and operational knowledge.
DTC Subscription Scale	The direct-to-consumer channel matures into a predictable, high-margin revenue stream.	Investment in digital marketing and subscription infrastructure.	The 2023 Republic crowdfunding page cited a $3.5M revenue projection [Republic, 2023].
Functional Ingredient Platform	The brand expands beyond canned beverages into adjacent formats like drink mixes or powders.	A successful limited-time flavor launch demonstrates R&D agility.	The core product formulation is built on a blend of functional ingredients [Perplexity Sonar Pro Brief, 2023].

Data Accuracy: YELLOW -- Growth scenarios and market comps are extrapolated from limited public traction signals and founder backgrounds. The 2023 revenue projection is sourced solely from a crowdfunding page.

Sources

1. [Republic, 2023] Heywell, Republic | https://republic.com/heywell
2. [BevNET, 2022] Mastersfund Announces Seed Investment in heywell Sparkling Adaptogenic Water | https://www.bevnet.com/news/2022/mastersfund-announces-seed-investment-in-heywell-sparkling-adaptogenic-water/
3. [BevNET, 2024] heywell Sparkling Adaptogenic Water Announces Lead Investor Alethia in First Strategic Funding Round | https://www.bevnet.com/news/2024/heywell-sparkling-adaptogenic-water-announces-lead-investor-alethia-in-first-strategic-funding-round/
4. [Perplexity Sonar Pro Brief, 2023] Good Beverages, Inc. dba heywell | (Aggregated from web-grounded research)
5. [Bizwomen, 2019] Former MillerCoors execs launch new sparkling ‘wellness water’ Heywell | https://www.bizjournals.com/bizwomen/news/latest-news/2019/10/two-former-millercoors-execs-launch-new-sparkling.html
6. [US Chamber of Commerce] Founders of Women-Owned Wellness Beverage Brand Talk Perseverance | https://www.uschamber.com/co/good-company/growth-studio/heywell-founders-talk-perseverance
7. [heywell] We make delicious sparkling adaptogenic waters. | https://livingheywell.com/pages/our-ingredients
8. [BevNET, 2025] heywell Brand Accelerates Momentum With Major Retail Expansion And Marketing In 2025 | https://www.bevnet.com/pr/2025/02/26/heywell-brand-accelerates-momentum-with-major-retail-expansion-and-marketing-in-2025
9. [BevNET, Mar 2026] heywell Launches Limited-Time calm + restore Sparkling Green Apple Pineapple | https://www.bevnet.com/pr/2026/03/18/heywell-launches-limitedtime-calm--restore-sparkling-green-apple-pineapple
10. [PitchBook] heywell 2026 Company Profile: Valuation, Funding & Investors | https://pitchbook.com/profiles/company/370683-19
11. [Tracxn, 2026] Heywell - 2026 Company Profile, Team, Funding & Competitors | https://tracxn.com/d/companies/heywell/__8me9UXp4mYRtOvx6HkWdoKKhNlm4kWhZWWM9WApZEuM