Total amount raised
$800 Million
Latest funding date
11/01/2021
Location
Heyday has successfully raised funding over three rounds, with the latest being a Series C round. The company is backed by 12 investors, including Premji Invest and The Raine Group.
Keep reading to explore the intricacies of Heyday's fundraising journey and the investors backing this innovative platform.
What Is Heyday?
Heyday is a dynamic company based in San Francisco, California, specializing in digital marketing, e-commerce, information technology, and marketplace services. The company has successfully created a digital marketplace space designed to help sellers accelerate consumer product brands.
Founded in an unspecified year, Heyday has grown to employ between 101 and 250 people. The company has been acquired by Essor and has raised significant funding through multiple rounds, with the latest being a Series C round.
How Much Funding Has Heyday Raised?
- Series A
- Amount Raised: USD 175,000,000
- 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.
- Series B
- Amount Raised: USD 70,000,000
- Date: May 2021
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and operations.
- Series C
- Amount Raised: USD 555,000,000
- Date: November 2021
- Lead Investors: Premji Invest, The Raine Group
- Valuation at Round: Over $1 billion
- Motivation Behind the Round: To acquire and incubate brands, enhance technology and logistics, and accelerate investment in current brands.
Total Amount Raised: USD 800,000,000. Current Valuation: Over $1 billion.
Key Investors
- Premji Invest
- Details: Premji Invest is the investment arm of Azim Premji, the chairman of Wipro Limited. The firm focuses on long-term investments in various sectors.
- Investment Focus Areas: Technology, consumer, healthcare
- Notable Investments: Snapdeal, PolicyBazaar, Hygienic Research Institute
- The Raine Group
- Details: The Raine Group is a global merchant bank focused on technology, media, and telecommunications. They provide strategic advice and capital to growth companies.
- Investment Focus Areas: Technology, media, telecommunications
- Notable Investments: DraftKings, Imagine Entertainment, SoundCloud
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in early-stage and growth-stage companies. They aim to support transformative businesses.
- Investment Focus Areas: Technology, healthcare, consumer
- Notable Investments: Airbnb, Stripe, Warby Parker
- Khosla Ventures
- Details: Khosla Ventures is a venture capital firm that focuses on early-stage companies in the technology sector. They are known for their impactful investments.
- Investment Focus Areas: Technology, healthcare, clean energy
- Notable Investments: DoorDash, Square, Impossible Foods
- Victory Park Capital
- Details: Victory Park Capital is an alternative investment firm that provides capital to emerging and established businesses. They focus on specialty finance and credit markets.
- Investment Focus Areas: Specialty finance, real estate, credit markets
- Notable Investments: Avant, Bread, Fundbox
What's Next for Heyday?
Heyday's future is brimming with opportunities. With a substantial $555 million Series C funding, the company is poised to acquire and incubate new brands, enhance its technology and logistics, and expand internationally, particularly in Asia. This financial backing positions Heyday to scale its operations and deepen its market presence.
Future fundraising seems promising as Heyday continues to attract significant investment, potentially leading to more acquisitions and technological advancements. However, the company faces challenges such as intense competition from other well-funded aggregators and the complexities of integrating and scaling acquired brands. Navigating these hurdles will be crucial for Heyday's sustained growth and success.
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