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Heyday secures US$20m in funding to underpin expansion plans

23 Feb 2021 US-based skincare company Heyday has announced a US$20m (£14.2m €16.5m) Series B round of funding led by Level 5 Capital Partners (L5), with participation from existing investors Lerer Hippeau and Fifth Wall Ventures.

Heyday has a fleet of 10 US locations designed to offer consumers an accessible and personalised facial experience.

The company’s mission is to treat every consumer as an individual and provide skincare solutions both online and offline which empower people to be their best self. It also retails a selection of skincare and spa brands, such as Naturopathica, Eminence Organic Skincare, Pai, Herbivore and Skyn.

In line with this, Heyday’s expansion will meet the consumer both on and offline and include physical store expansion through a new franchise system, while simultaneously digitising its experiences and services.

The company has recently hired Maureen Sullivan as president – the former president and COO at Rent The Runway – to oversee expansion plans.

"We’re proud of the industry-leading in-store facial experience we’ve built and are excited to expand across the US while innovating digital experiences to meet consumers’ daily skincare needs in a differentiated, expert way,” says Adam Ross, Heyday CEO and co-founder.

Heyday will also utilise the investment to expand the talent and expertise that will power the growth of its skincare platform.

“Most importantly with this growth, we’re able to create opportunities for the 250,000-plus aestheticians across the country providing professional growth and development pathways both in the treatment room and online,” said Michael Pollak, Heyday chief experience officer and co-founder.

As part of the deal, L5 will become an anchor Heyday franchisee with a commitment to invest in 40 units over the next five years, and work closely with Sean Bock, Heyday’s chief development officer, who previously oversaw all franchise-led growth at Drybar.

“By expanding Heyday’s physical footprint to hundreds of stores in the next five years, paired with unique expert-led services available virtually, Heyday is poised to become the most trusted company in skincare,” commented Chris Kenny, managing partner L5.