beehiiv, a New York-based email newsletter platform, has secured a $33 million Series B funding round.
Investors
The round was led by NEA, with participation from Sapphire Sport and existing investor Lightspeed Venture Partners.
New Enterprise Associates (NEA) is a venture capital firm that focuses on investment stages ranging from the seed stage through the growth stage across various industry sectors. Founded in 1997, the firm is headquartered in Menlo Park, California, and Washington, D.C., with additional offices in Baltimore, Bangalore, Beijing, Boston, Mumbai, New York City, San Francisco, and Shanghai.
beehiiv Use of Funds
The company will use the funding to support the enhancement of its platform capabilities and user experience by strengthening engineering and support teams and accelerating user acquisition efforts. Additionally, beehiiv plans to accelerate the growth and effectiveness of its user acquisition.
About beehiiv
beehiiv provides an email newsletter platform empowering publishers and content creators to build custom emails and newsletters, enhance audience engagement, and drive monetization. Founded in 2021, the company serves a diverse client base, including enterprise publishers like Boston Globe Media, independent content creators, and notable figures such as Arnold Schwarzenegger and Dr. Jen Ashton. Headquartered in New York, it is built and supported by an entirely remote and global workforce.
Funding Details
Company: beehiiv, Inc.
Raised: $33.0M
Round: Series B
Funding Month: April 2024
Lead Investors: NEA
Additional Investors: Sapphire Sport, Lightspeed Venture Partners
Company Website: https://www.beehiiv.com/
Software Category: Email Newsletter Platform
Source: https://www.businesswire.com/news/home/20240429463635/en