beehiiv Raises $12.5M Series A led by Lightspeed Venture Partners

For Immediate Release

New York, June. 21, 2023 — beehiiv, a platform that streamlines creators and publishers ability to create, monetize, and scale their email newsletters, today announced it has raised a $12.5 million Series A, led by Lightspeed Venture Partners. This announcement comes on the heels of the company reaching $3 million in ARR of SaaS revenue, which makes up roughly 75% of the company’s revenue, at roughly a $4 million run-rate. Other revenue streams include their Ad Network, Boosts, and courses.

The round was led by Lightspeed Venture Partners, with additional investments from Social Leverage, Creator Ventures, Blue Wire Capital, and Contrarian Thinking Capital.

Notable angel investors who have participated in previous rounds: Alex Lieberman of Morning Brew, David Perell of Write of Passage, Codie Sanchez of Contrarian Thinking Capital, Shaan Puri of My First Million, Scott Galloway professor at NYU, Anna Palmer and Jake Sherman of Punchbowl News, amongst others.

With the new capital, the company will look to double the size of their team, hiring primarily across engineering, design, operations, marketing and sales. The company will also invest in considerable infrastructure upgrades and deploy more aggressive marketing and acquisition campaigns to expedite growth and capture additional market share.

The team is led by CEO Tyler Denk, Co-founders Benjamin Hargett and Jake Hurd, COO Preeya Goenka, and CTO Noah Pryor.

“Our goal has always been to provide the most robust ecosystem of tools for content creation, subscriber acquisition, audience development, and monetization,” said Denk. “We’re just getting started.”

To learn more about beehiiv, visit beehiiv.com.

Media Contact
Tyler Denk
[email protected]