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- 📝 Beehiiv raises $33M
📝 Beehiiv raises $33M
Liam Gill
May 01, 2024
News of the Day
New York-based newsletter platform Beehiiv has secured $33 million in Series B funding led by NEA, with participation from Sapphire Sport and Lightspeed Venture Partners, bringing its total raised to $46.5 million. This funding follows substantial growth, with beehiiv now sending 1 billion emails per month from 20,000 active newsletters, up significantly from last year. The platform, popular among individual writers and large organizations like Arnold Schwarzenegger and Boston Globe Media, also launched an advertising network to help monetize these newsletters. Beehiiv, co-founded by former Morning Brew employees, focuses on providing specialized advertising solutions to niche audiences and plans to use the funding for expansion and enhancing its platform's capabilities. The startup competes in a crowded market with players like Substack, Buttondown, and MailChimp but aims to differentiate by simplifying platform migration and integration with other tools.
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