beehiiv Inc., a leading next-generation email newsletter platform, announces its successful completion of a $33M Series B funding round led by NEA, with participation from Sapphire Sport and existing investor Lightspeed Venture Partners. This significant investment underscores beehiiv's rapid growth and commitment to revolutionizing email newsletter creation, engagement, and monetization for publishers and content creators.

1. Platform Overview:

   • beehiiv offers a comprehensive platform for building custom emails and newsletters, empowering publishers to enhance audience engagement, growth, and monetization.
   • The platform has witnessed rapid adoption since its inception in 2021, with current monthly revenue surpassing $1M and over 1 billion emails dispatched monthly.

2. Visionary Leadership:

   • Tyler Denk, CEO of beehiiv, expresses pride in the team's accomplishments and emphasizes the platform's potential for further growth.
   • Denk outlines key focus areas for platform enhancement, including new website capabilities, additional newsletter templates, a peer-to-peer marketplace, and transformative monetization capabilities.

3. Innovative Features and Monetization Model:

   • beehiiv introduces category-leading features, solidifying its position as the most performant newsletter and email platform available.
   • Unlike competitors, beehiiv does not take a share of subscription revenue, providing a more lucrative model for creators. The platform's Ad Network enables newsletters to secure sponsorship income from leading brands.

4. Strategic Allocation of Funds:

   • The funding will be directed towards strengthening the engineering and support teams to enhance platform capabilities and user experience.
   • beehiiv plans to accelerate user acquisition efforts by leveraging the new funding, aiming to expand its user base and market presence.

5. Partnership and Vision:

   • Danielle Lay, Partner at NEA, praises beehiiv's pioneering role in the email newsletter space and its customer-centric approach to platform development.
   • NEA is excited to partner with beehiiv to establish the platform as the leading email platform for creators and advertisers alike, recognizing its immense potential in the digital publishing landscape.

beehiiv's successful Series B funding round represents a pivotal moment in its journey to redefine email newsletter creation and monetization. With the backing of NEA and other investors, beehiiv is poised to enhance its platform capabilities, accelerate user acquisition, and solidify its position as the go-to solution for publishers and content creators worldwide. As the platform continues to innovate and expand its offerings, it remains committed to empowering creators with the tools and resources they need to thrive in the digital age.