- Heyday — a platform that is accelerating consumer product brands on digital marketplaces like Amazon — announced it has raised $175 million in Series A funding. These are the details.
Heyday — a platform that is accelerating consumer product brands on digital marketplaces like Amazon — announced it has raised $175 million in Series A funding. This round of funding comes from General Catalyst, Khosla Ventures, and Arbor Ventures with participation from Amazon, eBay, PayPal and Magento executives.
The company is known for partnering with entrepreneurs to buy, launch, and incubate brands. And the company is developing a marketplace-native technology, data, and operations stack to empower those brands to thrive.
The marketplace model (led by Amazon) is the world’s largest retail economy, growing at double the rate of traditional e-commerce. And today, it is estimated that over 60% of all product searches start on Amazon, leading to $200 billion in transactions through the retail giant last year alone. Plus these numbers have skyrocketed even higher since March, driven by further changes in consumer behavior due to the Covid-19 pandemic.
Heyday has moved quickly since its founding in August, already acquiring and launching several brands. And the company will end the year with over $20 million of annualized revenue, not even four months after launch. And Rymarz and co-founder Adam Gerchen expects Heyday to cross $200 million of annualized revenue by the end of 2021 and $1 billion by the end of 2023.
KEY QUOTES:
“We’re in the early days of a tectonic shift toward marketplace commerce. Just as the last decade saw the rise of Warby Parker, Dollar Shave Club and other digitally native vertical brands, this decade will see the rise of a new generation of marketplace-native brands. Although the shift has been a boon to entrepreneurs around the globe, most still lack the capital, tools and resources to realize their full potential. Heyday is filling that void.”
— Sebastian Rymarz, Heyday co-founder and CEO
“Online marketplace ecosystems are transforming the way retail brands launch and reach wide consumer adoption. Heyday is building a data-driven technology platform that can help those brands reach real scale leveraging those marketplaces. The Heyday team has shown incredible drive since launch and we look forward to partnering with them as they continue to build to their mission.”
— Mark Crane, partner at General Catalyst
