Premji Invest co-leads $555m funding in US brand building platform Heyday

Azim Premji. Photo: Mint

San Francisco-based Heyday, a platform for brand building, on Wednesday announced that it has raised $555 million in a Series C funding round co-led by India’s Premji Invest, the family office of Wipro chairman Azim Premji, and The Raine Group.

Existing investors General Catalyst, Victory Park Capital, and Khosla Ventures also participated in the financing, it said in a statement.

The new funding comes on the heels of Heyday’s $70 million Series B funding round in May, bringing the total capital raised to $800 million since the company’s founding in 2020, the statement added.

Heyday will use the capital to accelerate investment in its brands, technology platform, and logistics footprint, and continue its pace of acquiring and incubating leading digital brands.

“Marketplaces like Amazon have democratised e-commerce creation, making it easier than ever before for consumers to discover innovative new products and brands,” said Sebastian Rymarz, co-founder and CEO. “We’re excited to partner with these amazing entrepreneurs and leverage our platform capabilities to help them make the great leap from a marketplace-native brand to household brand.”

Heyday acquires and incubates marketplace-native brands through partnerships with e-commerce entrepreneurs. Once a part of the Heyday platform, brands can tap into technology, data, supply chain, and growth capabilities designed to help them go omni-channel, and expand their product offering.

Concurrently, Heyday announced new hires in key leadership roles, including CFO Navid Veiseh (Amazon, Coupang), CMO Reema Batta (Opendoor, Expedia), and CAO Todd Heeter (Doma, Anixter).

The company said that the new hires will help steer the company through its rapid pace of scaling and global expansion, and its projection to generate well over $200 million revenue run-rate by the end of 2021.

Premji Invest focuses on early- and late-stage investments targeting India’s consumer, financials, technology, and manufacturing companies. The investor was recently in the news for having invested in India’s largest CPaaS provider Tanla Platforms Ltd. Earlier this month, it also led funding in Indian edtech startup Brightchamps.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.