SAN FRANCISCO — Heyday, a platform that helps build eCommerce brands, announced it closed a $70 million of Series B equity financing, less than six months after announcing its $175 million Series A funding. General Catalyst returned to lead the round, tripling its original investment, with additional financing from existing investors including Khosla Ventures and Arbor Ventures.
Heyday’s marketplace-native approach reflects consumers’ shifting preferences toward convenience, selection and value that digital marketplaces like Amazon are in the best position to deliver and is in stark contrast to the conventional direct-to-consumer (DTC) mantra that marked the last decade of eCommerce brand building. By voting with their wallets, consumers drove sales through digital marketplaces to a 62% share of the $4.3 trillion eCommerce market in 2020.
Since emerging from stealth in November 2020, Heyday has scaled rapidly, crossing $100 million in revenue, growing its global team to over 100 employees and expanding into over a dozen international markets. While many of the major players in the marketplace ecosystem are in an arms race of product aggregation, Heyday has taken a different approach focusing its resources on brand acceleration. Heyday forms innovative partnerships with eCommerce entrepreneurs, spanning growth capital to full acquisitions. Once a part of the Heyday platform, brands are tapped into marketplace-native technology, data and operational capabilities designed to produce exponential growth, and can participate in the success of the platform through Heyday’s entrepreneur equity-sharing program.
“Amazon developed the world’s largest entrepreneur-creation machine, with 50% of its sales made by entrepreneurs who are building brands that delight consumers every day. Our mission is to help those eCommerce entrepreneurs reach new heights,” said Sebastian Rymarz, Heyday co-founder and CEO. “A digital brand is worth more inside of Heyday than outside of Heyday.”