Skincare company Heyday raises $20 million Series B funding
New York-based expert skincare company Heyday said on Tuesday that it has secured a $20 million Series B round of funding, led by Level 5 Capital Partners (L5).
The funding round also includes participating investors such as existing investors Lerer Hippeau and Fifth Wall Ventures.
The funding will allow Heyday to further scale and cement its position as a trusted brand in skincare, via a franchise expansion plan. The franchise system will equally be complemented by the simultaneous digitizing of the company’s best-in-class experiences and services.
“This strategic funding will enable us to accelerate our growth and deliver on our vision of delivering highly personalized skincare solutions,” said Adam Ross, CEO and co-founder of Heyday, in a news statement.
“We are proud of the industry-leading in-store facial experience we have built and excited to expand across the U.S. while innovating digital experiences to meet consumers’ daily skincare needs in a differentiated, expert way.”
The investment will see Level 5 become a Heyday anchor franchisee with a commitment to invest in 40 units over the next five years, and to work closely with Sean Bock, Heyday’s chief development officer, who previously oversaw all franchise-led growth at Drybar.
“By expanding Heyday’s physical footprint to hundreds of stores in the next five years, paired with unique expert-led services available virtually, Heyday is poised to become the most trusted company in skincare,” said Chris Kenny, managing partner of Level 5 Capital Partners (L5).
“We are thrilled for Heyday to join our portfolio and for the opportunity to support its franchise expansion.”
Heyday also hired Maureen Sullivan as president, who was previously president and COO at Rent The Runway, to lead Heyday’s expansion.
The company, launched in 2015, aims to democratize access to expert-led, personalized skin care services. The new funding round gives Heyday $33.2 million in total funding. It previously received an $8 million Series A in 2018, led by Fifth Wall.
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