Hey Hey Hey! Heyday Raises $555 Million

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SAN FRANCISCO &&num;8212&semi; Heyday, a platform for building consumer product brands on Amazon and online, has closed a &dollar;555 million Series C funding round&period; The round was co-led by technology investors The Raine Group and Premji Invest with participation from existing investors General Catalyst, Victory Park Capital, and Khosla Ventures&period;&NewLine;The new funding comes on the heels of a &dollar;70 million Series B funding round in May, bringing the total capital raised to &dollar;800 million since the company&&num;8217&semi;s founding in 2020&period; Heyday plans to use the capital to accelerate investment in its brands, technology platform, and logistics footprint, and continue its rapid pace of acquiring and incubating leading digital brands&period;&NewLine;&&num;8220&semi;Marketplaces like Amazon have democratized e-commerce creation, making it easier than ever before for consumers to discover innovative new products and brands,&&num;8221&semi; said Sebastian Rymarz, co-founder and CEO&period; &&num;8220&semi;We&&num;8217&semi;re excited to partner with these amazing entrepreneurs and leverage our platform capabilities to help them make the Great Leap from marketplace-native brand to household brand&period;&&num;8221&semi;&NewLine;Heyday also filled key leadership roles together with the Series C, adding a team of seasoned retail and technology executives who have been instrumental in leading hyper-growth organizations, including CFO Navid Veiseh (Amazon, Coupang), CMO Reema Batta (Opendoor, Expedia), and CAO Todd Heeter (Doma, Anixter)&period; The new hires will help steer the company through its rapid pace of scaling and global expansion, as evidenced by its seventh office opening in China, a 20x increase in its workforce of experts in brand management, product development and innovation, integrated marketing, supply chain, operations, technology, data science and M&amp&semi;A, and its expectation to generate well over &dollar;200 million of run-rate revenue by the end of 2021&period;&NewLine;&&num;8220&semi;We have been exceptionally impressed with Sebastian and his team, their vision, and commitment to operational excellence for the next generation of consumer brands,&&num;8221&semi; said Jake Vachal, Managing Director at The Raine Group&period; &&num;8220&semi;Heyday&&num;8217&semi;s innovative approach to growing and incubating brands provides entrepreneurs access to leading technology, as well as deep-rooted expertise spanning operations and marketing&period; We are excited to be partnering with this team as they continue building a differentiated platform for quality, digital-first brands&period;&&num;8221&semi;&NewLine;The Heyday platform weaves together technology, data, operations, and growth capabilities to help its brands with omni-channel expansion, product development, and brand equity building&period; Its brands have outpaced the broader e-commerce market, delivering 64&percnt; year-over-year organic growth&period; Last month, Heyday launched a partnership with MIT Center for Transportation &amp&semi; Logistics to further develop its platform&&num;8217&semi;s inventory optimization capabilities, helping improve its brands in-stock rates and navigate an incredibly tumultuous global supply chain environment&period;&NewLine;&&num;8220&semi;Heyday&&num;8217&semi;s differentiated strategy and world-class team stand-out in what is playing out to be one of the most explosive new industries,&&num;8221&semi; said Sandesh Patnam, Managing Partner Premji Invest&period; &&num;8220&semi;We are excited to partner with the leadership team to help Heyday leave a mark on the e-commerce space&period;&&num;8221&semi;&NewLine;

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