Heyday raises $12 million in Series B extension round
Skincare services provider Heyday announced this week its has raised $12 million in a Series B extension round, led by existing investor, Level 5 Capital Partners (L5).
The New York-based skincare company said it plans to use the funds to invest in franchise expansion and innovation in-person and online. The company will also expand into skincare products, and plans to open more than 30 shops in 2023, with a total of 135 franchise units in markets including Denver, Boston, Austin, and Phoenix.
"We’re incredibly fortunate to have an investor group who, like us, recognize the tremendous opportunity Heyday has to be the leading skincare-services brand across the U.S.,” said Adam Ross, Heyday co-founder and CEO.
“This capital will help Heyday continue to make strategic investments that provide world-class facials and innovation for our clients, while setting the brand and our franchised partners up for outsized success."
The funding comes nearly two years after its initial $20 million Series B funding round in February 2021.
"We're excited to continue to invest in Heyday given the clear consumer demand signal we are seeing beyond its origin markets of NYC and LA,” said Chris Kenny, managing partner of L5 Capital.
“Heyday has a clear path to category leadership in coveted consumer segments with 40 premium franchise shops open by the end of 2023 and significant first mover advantage in the service-led skincare segment."
Most recently, Heyday acquired acne brand ZitSticka, in November. Heyday said it will support ZitSiticka’s next phase of growth within retail by using its ability to get digital brands into retailers and by expanding its on-shelf presence.
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