Thesis Raises Another $8.4M to Improve Cognitive Performance Based on Your Body’s Brain Chemistry – AlleyWatch

The use of nootropics, chemicals or natural substances to positively affect mental skills is an emerging field of neuropsychology. The most common nootropic drug in use today is caffeine, and caffeine has been shown to improve thinking skills by affecting neurotransmitters in the brain, helping with short-term memory and learning. Nootropics are also growing in popularity beyond caffeine as supplements are developed to aid intellectual performance. paper is a supplement brand focused on improving cognitive performance by focusing on individual chemistry and specific goals. Most nootropic brands offer a one-size-fits-all approach to their products. Instead, the paper takes a personalized approach, using the first month to understand what works best for a particular person and formulating ingredients based on specific factors. You can do it for dollars, but other services can take 6 months and cost 10 times that. Offering formulations for energy, creativity, logic, clarity, confidence and motivation, Thesis has helped over 500,000 customers since 2017.

AlleyWatch catches up with Thesis CEO and founder Dan Fried learns more about the business, the company’s strategic plans, and the latest funding round, bringing the company’s total funding to $13.5 million.

Who are your investors and how much did you raise?

Thesis has raised $8.4 million in Series A funding. for our investors, Unilever Ventures, Redo Ventures, Alive VC, Break TrailNBA player Kevin Loveand model Kate BockIt previously raised $5.1 million in an unreported seed round involving Unilever Ventures, MBX, Trust Ventures, Redo Ventures and XRC Labs.

What products or services does Thesis offer?

Thesis provides a customized approach to cognitive performance products (nootropics) based on your unique brain chemistry. Thesis helps people be more cognitive and productive by using the highest quality ingredients.

What inspired you to start Thesis?

For as long as I can remember, I’ve had trouble concentrating. I dropped out of high school after failing all my classes. People thought I was lazy and stupid, and it was a very painful experience. It wasn’t until I discovered nootropics that I discovered my true potential. I just couldn’t concentrate. My brain chemistry was not set to function in the traditional structure of the American educational system. I was able to adapt and thrive in ways I never would have. Without nootropics, I wouldn’t be where I am today, and I wouldn’t be able to work.

How are papers different?

While other nootropic brands take a one-size-fits-all approach, Thesis is customized to each person’s unique brain chemistry. We offer our customers the opportunity to try the highest quality nootropic ingredients in a systematic way that maximizes results. Condensed into a dollar month-long process, we tested different formulas and found the best combination of ingredients for each person.
We have the highest quality ingredients that are all tested for purity by third-party labs, the gold standard for safety. Manufactured by
We also have some of the strongest health and wellness advocates who use our products, including Dr. Andrew Huberman, Rich Roll, Kevin Love, and Kate Bock.

What is Thesis’ target market and size?

The Thesis is the first line of defense for anyone having trouble concentrating or being productive. Unfortunately, this is all too common in today’s world. Given macrotrends such as TikTok, smartphones and telecommuting, people are struggling to concentrate more than ever, and nootropics are a super-growing category ($14 billion global market in 2023). The paper offers highly effective and approachable products to help people try nootropics.

what is your business model?

The paper is DTC and the product is available on our website.

How are you preparing for a potential economic slowdown?

At the beginning of Covid, I was a little nervous because I didn’t know how the audience would react to what was going on. Many people were out of work. We lost a few customers, but we sent free boxes to customers who said they liked our product but couldn’t afford it anymore. Some even asked us to stock up and buy six months or a year at a time to make sure we had enough. In good times and bad, people need to focus. Whether you’re using Thesis to power a high-pressure job or looking for a job, Thesis offers meaningful benefits. I have been on his nootropics for 10 years.

What was the fundraising process like?

The paper grew profitably and investors began to take notice. We got a lot of outreach and started meeting people we really liked. I was lucky enough to receive multiple term sheets.

The paper grew profitably and investors began to take notice. We got a lot of outreach and started meeting people we really liked. I was lucky enough to receive multiple term sheets.

What was the biggest challenge you faced in raising capital?

Capital markets have changed and are now more risk averse. We are profitable and on a strong growth trajectory, but the funding process has taken longer than expected. We took a much broader approach to fundraising and spoke with a number of investors, as opposed to a more narrow focus in our seed round.

What factors in your business are driving investors to write you checks?

The number one factor is that we are growing EBITA positive. So I didn’t need the money. Second, the nootropics category has historically been a highly fragmented market, with many competitors (frankly, many shady competitors). Our papers stand out because we are best in class, from our values ​​to our testing protocols to our partners. We partner with some of the greatest voices in health and wellness, including Dr. Andrew Huberman, Rich Roll, Kevin Love, and Kate Bock. We have assembled a world-class scientific advisory board that sets us apart from our competitors.

What milestones do you plan to achieve in the next six months?

Recruitment will be the main focus over the next six months. Now that the round is closed, most of our time will be spent building a management team that is poised for explosive growth. Now we’re more focused on the long term, and he’s driving our company’s annual revenue to over $100 million.

What advice can you give to New York companies that haven’t injected fresh capital into their banks?

If you need to get into survival mode now, do it sooner rather than later. We survived the early days of Bootstrap by focusing on a loyal customer base who truly love our products. When we weren’t growing fast, we could spend a lot of time focusing on our core customers and building a customer-focused foundation.

Where do you see the company going now in the near future?

In the short term, we are expanding our offerings at both the product level and the content and community level. Nootropics have been transformative for me and have been taken daily for the last 10 years, but there is only so much you can do with nootropics alone. The right nootropics must be combined with healthy habits to achieve incredible results. We’re building a content strategy that helps you get.
Another thing we’re really excited about is our second product line, Stasis. Stasis was born from customer needs. Because we have seen so many people take stimulants and deal with the downsides of taking them, it is specifically designed to support the brains of people taking stimulants. We released Stasis 8 months ago and it has exceeded all our expectations.

With so many options for commuting in the city, how do you get to work each day?

Luckily, I live five blocks away from my office, so I walk to work. I’m in the office every day and I take my dog ​​to work.

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