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Beehiiv Secures $33M for Its Newsletter and Email Platform

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beehiiv Inc. recently announced its $33M Series B led by NEA and participating investors including Sapphire Sport. The company had previously raised $12.5M in a Series A fundraise last June, led by Lightspeed Venture Partners, who also participated in the Series B.

beehiiv provides a comprehensive platform for publishers to build custom emails and newsletters. Since launching in 2021, beehiiv has seen rapid adoption, with current monthly revenue exceeding $1M, and over 1 billion emails dispatched monthly.

“I’m incredibly proud of how much the team has been able to accomplish in such a short period of time, but we’re still in the early innings of what I believe this platform is capable of,” said Tyler Denk, the CEO of beehiiv.

The funding will be allocated towards bolstering the engineering and support teams to improve the overall capabilities and user experience of the platform. beehiiv has historically been conservative with its marketing efforts, but will also use the new funding to accelerate the growth and effectiveness of their user acquisition.

“Email is one of the most enduring digital channels, but there’s immense untapped potential for publishers to grow and monetize newsletter audiences,” said Danielle Lay, Partner at NEA.

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