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- beehiiv Raises $1.6M to Expand Headcount, Accelerate Product Development
beehiiv Raises $1.6M to Expand Headcount, Accelerate Product Development
Fundraising
For Immediate Release
NEW YORK, NY, September 12, 2022, - beehiiv Inc. announces today funding of $1.6M to expand headcount and accelerate product development of their fast-growing newsletter publishing platform. This comes as an extension to the seed round the company raised last October and brings the total raised to nearly $4.2M.
Since launch in November of 2021, beehiiv has achieved 30%+ MoM revenue growth every month and expects to exceed $1M ARR by the end of the year. The company will use the proceeds from fundraising to expand their sales and marketing efforts within the enterprise segment of the market and begin piloting their ad network with select publishers and brand partners.
Fundraising was led by existing investors Creator Ventures, Blue Wire Capital, and Social Leverage with participation from a diverse group of angels and strategic partners including Alex Lieberman - cofounder of Morning Brew, Anthony Zaccaria - cofounder of Linktree, Codie Sanchez - founder of Contrarian Thinking, David Perell - founder of Write of Passage, Ankur Nagpal - founder of Teachable, Shaan Puri — cohost of My First Million, and more.
“We first invested in beehiiv prior to launch, because of Tyler and the team’s tenacity and domain expertise. We have since been amazed by beehiiv’s product velocity, team development and rapid traction, so we are delighted to co-lead this round alongside such high-value investors. The large and growing newsletter market is ripe for disruption and we are convinced that beehiiv’s creator-first approach and product execution will win.”
“The fact that the team has achieved such amazing growth without spending a cent on acquiring customers shows the quality of their offering, as does the universal adoration from creators using the platform.”
The team of 8 plans to increase headcount by 50% through the end of the year, as they continue to expand their impressive roster of creators, publishers, and businesses using the platform.
About beehiiv
Founded in 2021 by a team of early engineers at Morning Brew, led by CEO Tyler Denk, and based in New York City, beehiiv’s mission is to be the best place for creators and publishers to create and monetize their work. With an unceasing focus on customer value, technology, and innovation, beehiiv offers a robust, yet easy to use, newsletter publishing experience. Users - from independent to enterprise - trust beehiiv to launch, grow, and scale high-performing email newsletters across a range of topics and industries.
To learn more about beehiiv, visit beehiiv.com.
Media ContactTyler Denk[email protected]