Total amount raised
$800 Millions
Latest funding date
Location
Heyday has successfully raised funds through multiple rounds, with the latest being a Series C. The company is a next-generation platform designed to accelerate e-commerce brands.
Keep reading to explore the intricacies of Heyday's fundraising journey and the investors backing this innovative platform.
What Is Heyday?
Heyday, founded in August 2020, is a next-generation platform that accelerates e-commerce brands. The company is headquartered in San Francisco, California.
Operating in the digital marketing, e-commerce, information technology, and marketplace industries, Heyday was co-founded by Adam R. Gerchen and Sebastian Rymarz. The company employs between 101-250 people.
How Much Funding Has Heyday Raised?
- Series A
- Amount Raised: $175M
- Date: November 2020
- Lead Investors: General Catalyst, Khosla Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the growth and expansion of Heyday's digital marketplace platform for consumer product brands.
- Series B
- Amount Raised: $70M
- Date: May 2021
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's rapid growth and expansion in the marketplace brand-building sector.
- Series C
- Amount Raised: $555M
- Date: November 2021
- Lead Investors: Premji Invest, The Raine Group
- Valuation at Round: Over $1 billion
- Motivation Behind the Round: To acquire and incubate more brands, enhance Heyday's technology platform and logistics operations, and accelerate investment in its current brands.
Total Amount Raised: $800M. Current Valuation: Over $1 billion.
Key Investors
- Premji Invest
- Details: Premji Invest is a private equity and venture capital firm. It focuses on long-term investments in various sectors.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Flipkart, Snapdeal, PolicyBazaar.
- The Raine Group
- Details: The Raine Group is a global merchant bank focused on technology, media, and telecommunications. It provides advisory services and capital to growth companies.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: DraftKings, Imagine Entertainment, Vice Media.
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in early-stage and growth-stage companies. It aims to support transformative businesses.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Airbnb, Stripe, Snap.
- Khosla Ventures
- Details: Khosla Ventures is a venture capital firm that focuses on impactful technology investments. It supports companies at various stages of development.
- Investment Focus Areas: Technology, healthcare, sustainability.
- Notable Investments: DoorDash, Square, Impossible Foods.
- Victory Park Capital
- Details: Victory Park Capital is an investment firm that provides private credit and equity to middle-market companies. It focuses on value creation through active management.
- Investment Focus Areas: Private credit, equity investments in middle-market companies.
- Notable Investments: Avant, Bread, Fundbox.
What's Next for Heyday?
Heyday's future is brimming with opportunities. With $555 million raised in Series C funding, the company is poised to acquire and incubate new brands, enhance its technology platform, and expand its logistics operations. The potential for growth is immense, as Heyday aims to deepen its engagement in Asia and scale its current brands, projecting a run-rate revenue of over $200 million by year-end.
Future fundraising seems likely, given the competitive landscape and the substantial funds raised by peers. Heyday's strategy of focusing on high-quality brands and expanding into direct-to-consumer and traditional retail channels positions it well for continued investment. However, the company will face challenges such as intense competition from other brand aggregators and the complexities of integrating acquired brands and navigating international markets.
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