Hey Hey Hey! Heyday Raises $555 Million

<p><strong><span class&equals;"xn-location">SAN FRANCISCO<&sol;span><&sol;strong> &&num;8212&semi; Heyday&comma; a platform for building consumer product brands on Amazon and online&comma; has closed a <span class&equals;"xn-money">&dollar;555 million<&sol;span> 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&comma; Victory Park Capital&comma; and Khosla Ventures&period;<&sol;p>&NewLine;<p>The new funding comes on the heels of a <span class&equals;"xn-money">&dollar;70 million<&sol;span> Series B funding round in May&comma; bringing the total capital raised to <span class&equals;"xn-money">&dollar;800 million<&sol;span> since the company&&num;8217&semi;s founding in 2020&period; Heyday plans to use the capital to accelerate investment in its brands&comma; technology platform&comma; and logistics footprint&comma; and continue its rapid pace of acquiring and incubating leading digital brands&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Marketplaces like Amazon have democratized e-commerce creation&comma; making it easier than ever before for consumers to discover innovative new products and brands&comma;&&num;8221&semi; said <span class&equals;"xn-person">Sebastian Rymarz<&sol;span>&comma; 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;<&sol;p>&NewLine;<p>Heyday also filled key leadership roles together with the Series C&comma; adding a team of seasoned retail and technology executives who have been instrumental in leading hyper-growth organizations&comma; including CFO <span class&equals;"xn-person">Navid Veiseh<&sol;span> &lpar;Amazon&comma; Coupang&rpar;&comma; CMO Reema Batta &lpar;Opendoor&comma; Expedia&rpar;&comma; and CAO Todd Heeter &lpar;Doma&comma; Anixter&rpar;&period; The new hires will help steer the company through its rapid pace of scaling and global expansion&comma; as evidenced by its seventh office opening in <span class&equals;"xn-location">China<&sol;span>&comma; a 20x increase in its workforce of experts in brand management&comma; product development and innovation&comma; integrated marketing&comma; supply chain&comma; operations&comma; technology&comma; data science and M&amp&semi;A&comma; and its expectation to generate well over <span class&equals;"xn-money">&dollar;200 million<&sol;span> of run-rate revenue by the end of 2021&period;<&sol;p>&NewLine;<p>&&num;8220&semi;We have been exceptionally impressed with Sebastian and his team&comma; their vision&comma; and commitment to operational excellence for the next generation of consumer brands&comma;&&num;8221&semi; said <span class&equals;"xn-person">Jake Vachal<&sol;span>&comma; 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&comma; 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&comma; digital-first brands&period;&&num;8221&semi;<&sol;p>&NewLine;<p>The Heyday platform weaves together technology&comma; data&comma; operations&comma; and growth capabilities to help its brands with omni-channel expansion&comma; product development&comma; and brand equity building&period; Its brands have outpaced the broader e-commerce market&comma; delivering 64&percnt; year-over-year organic growth&period;  Last month&comma; Heyday launched a partnership with MIT Center for Transportation &amp&semi; Logistics to further develop its platform&&num;8217&semi;s inventory optimization capabilities&comma; helping improve its brands in-stock rates and navigate an incredibly tumultuous global supply chain environment&period;<&sol;p>&NewLine;<p>&&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&comma;&&num;8221&semi; said <span class&equals;"xn-person">Sandesh Patnam<&sol;span>&comma; 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;<&sol;p>&NewLine;