# Sourse Research Record

Accessed: 2026-06-18
Refreshed: 2026-06-19

Deck reviewed: `/Users/kevinweatherman/Downloads/D2C + Consumer/Candy Chocoate Infused with vitamins D2C.pdf`

Rendered slide contact sheet: `/Users/kevinweatherman/Documents/deck-review/output/research/sourse_contact_sheet.jpg`

## Company Snapshot

| Field | Data |
|---|---|
| Company | Sourse / Sourse Inc. |
| Website | https://trysourse.com |
| Founders in deck | Jennifer "Jenne" Moore and Andrew Remlinger |
| Later co-founder / creative director | Sarah Hyland joined in 2021 |
| Launch date | August 2020 public launch |
| Deck timing | Fall 2020 / PDF created Dec. 9, 2020 |
| Deck stage | Pre-seed |
| Deck ask | $500K pre-seed round through SAFE note |
| Category | Vitamin-infused chocolate / functional food / beauty and wellness supplements |
| Current positioning | Chocolate supplements for skin, hair, sleep, energy, and mood |

## Current Status Overlay

| Signal | Current Read | Source Notes |
|---|---|---|
| Operating status | Active | Sourse's official site is live with current product positioning, product reviews, Sarah Hyland brand copy, and chocolate supplements for skin, hair, sleep, energy, and mood. |
| Current product signal | Active but claim-sensitive | Official site claims chocolate supplements absorb 3X better than pills; this is useful positioning but needs substantiation. |
| Headcount signal | Mixed / unresolved | LinkedIn lists 11-50 employees; ZoomInfo lists 1-10 employees and notes recent hires; PitchBook's public snippet lists 43 employees. |
| Funding signal | Raised after deck | Glossy and BeautyMatter report $1.6M pre-seed and $2.4M seed; PitchBook snippet reports a higher total of $6.5M, which needs reconciliation. |
| Diligence caveat | Current scale needs re-checking | Retail footprint, current headcount, retention, subscription mix, and claims substantiation need verification before using Sourse as a high-confidence growth benchmark. |

## Profile Research Synthesis

The most accurate company-specific profile read is:

Sourse is a behavior-change consumer brand. The pre-seed deck turns an unpleasant supplement habit into a craveable daily ritual: vitamin-infused chocolate. The strongest deck evidence is not market size alone; it is the combination of a memorable hook, early monthly revenue, strong claimed gross margin, retail pilots, UGC/social proof, and a milestone-tied $500K SAFE ask. Later evidence supports the fundraising outcome through a $1.6M pre-seed, $2.4M seed, Sephora and Whole Foods distribution, and Sarah Hyland's public brand role.

The company is a strong comparable for:

- pre-seed CPG decks with early revenue
- functional food and supplement brands
- beauty/wellness brands with retail ambition
- products that replace an unloved behavior
- decks where unit economics reduce investor skepticism

The company is a weaker comparable for:

- companies without regulatory or claim substantiation risk
- enterprise or pure software decks
- brands that already have mature retention/cohort data
- companies where celebrity involvement is not relevant to go-to-market

The page should explicitly show what is supported versus what needs diligence:

| Supported / higher-confidence | Needs diligence / lower-confidence |
|---|---|
| Active official site and current product catalog. | Whether headcount is meaningfully growing. |
| $1.6M pre-seed and $2.4M seed reported by trade press. | Funding total discrepancy between Glossy/BeautyMatter and PitchBook snippets. |
| Historic Sephora and Whole Foods distribution. | Current retail footprint and sell-through. |
| Sarah Hyland's public co-founder/creative director role. | Retention, repeat purchase, and subscription cohorts. |
| Deck-time early sales and gross margin claims. | Clinical and regulatory support for absorption and health/beauty claims. |

Presentation implication: lead with a status overlay that says active but headcount mixed, then use Sourse as a useful early-stage consumer deck comparable with a clear claims-risk caveat.

## Funding History

| Round / Signal | Date | Amount | Investors | Notes |
|---|---:|---:|---|---|
| Deck ask | 2020 | $500K SAFE | Not named | Asked to build brand awareness, expand product offering, and acquire customers. |
| Pre-seed | 2021 | $1.6M | 25madison plus some overlapping later investors | Packaging Strategies and BeautyMatter report the round followed shortly after launch. |
| Seed | Apr. 2023 | $2.4M | New Theory Ventures, H Ventures, JAWS Ventures, Satori Capital, Short List Capital, Harlo Capital, LDR Ventures, Sanne Vloet, Nicole Cogan | Glossy says total funding reached $4M. |

Sourse is a clean example of a deck that stated a small pre-seed ask and later raised larger pre-seed and seed rounds.

## Deck Narrative

Sourse's deck is compact and highly founder-facing:

1. Pills and powders do not fit modern consumer behavior.
2. Vitamins should become an enjoyable daily food ritual.
3. Chocolate bites combine supplement function, clean ingredients, brand experience, and convenience.
4. The market sits at the intersection of supplements and healthy snacking.
5. Early sales and retail partnerships show demand.
6. Strong unit economics make the format investable.
7. The raise funds awareness, new products, subscription retention, and retail distribution.

## Deck-Time Traction

| Metric | Claim | Status |
|---|---|---|
| Beta launch | Summer 2020 Hype Bites sold out through word of mouth and earned media | Deck-claimed |
| Beta sales | $22K | Deck-claimed |
| August 2020 | $50K sales | Deck-claimed |
| September 2020 | $76K sales | Deck-claimed |
| October 2020 | $80K sales | Deck-claimed |
| Retail | Nordstrom and Erewhon partnerships | Deck-claimed |
| DTC gross margin | 72.1% | Deck-claimed |
| Retail gross margin | 71.6% | Deck-claimed |
| Raise objective | $300K-$400K monthly revenue | Deck-claimed target |

## Later Outcome Signal

- Packaging Strategies reported Sourse officially launched in August 2020 and later raised $1.6M pre-seed.
- The 2021 rebrand added Sarah Hyland as co-founder and creative director.
- Packaging Strategies reported more than 400% first-year growth and over 500,000 pouches sold.
- BeautyMatter reported Sourse launched in 61 Sephora stores and online and was sold at over 100 Whole Foods locations.
- Glossy reported the 2023 $2.4M seed, bringing total funding to $4M.
- The current Sourse site is active and claims 250K+ happy customers, product reviews, and chocolate supplements that absorb 3X better than pills.

## Most Useful Comparable Slides

| Slide | Pattern | Why it matters |
|---:|---|---|
| 1 | One-line consumer hook | "Eat your vitamins" is instantly memorable. |
| 4 | Product format plus ritual | Makes a supplement feel like a daily snack behavior. |
| 5 | This/not that contrast | Simple replacement framing for a consumer habit. |
| 6 | Category mashup market | Combines supplements and healthy snacking to frame a wedge. |
| 8 | Monthly traction timeline | Excellent pre-seed revenue proof with launch velocity. |
| 9 | Unit economics table | Strong early CPG margin proof. |
| 12 | Ask plus milestones | Clear $500K SAFE ask tied to monthly revenue, products, subscription, and retail. |
| 13 | UGC/social proof collage | Visual evidence of consumer/influencer energy. |

## Risks And Claim Quality

| Risk | Why it matters | Status |
|---|---|---|
| Absorption claims | Deck claims 60% improved absorption compared to pills; current site claims 3X better absorption. | Needs clinical substantiation and careful regulatory language. |
| Health/beauty claims | Skin, hair, mood, sleep, energy, immunity, and performance claims can trigger supplement compliance risk. | Flag for scientific and regulatory review. |
| Chocolate shipping | Melt/spoilage and thermal shipping costs matter for unit economics. | Deck includes shipping cost, but seasonal sensitivity is not shown. |
| Retention | Deck has early sales but no repeat purchase/subscription cohort data. | Open gap. |
| Celebrity signal | Sarah Hyland later adds awareness, but investors still need retention, margins, and claims substantiation. | Treat as brand accelerator, not proof of product-market fit. |

## Open Data Gaps

- SAFE valuation cap/discount and whether the $500K deck ask closed.
- Exact 2021 pre-seed investor breakdown and check sizes.
- Exact CAC, subscription mix, repeat purchase, and cohort retention.
- Clinical substantiation for absorption and beauty/health claims.
- Current retail footprint by store count and sell-through.
- Crunchbase/PitchBook full profile confirmation.

## Source List

See `sourse_sources.csv` for source audit.