NEW YORK — It’s a great day for Heyday. The fast-growing company looking to making expert skincare accessible through its studios, has landed a $20 million Series B round of funding led by Level 5 Capital Partners (L5) with participation from existing investors Lerer Hippeau and Fifth Wall Ventures.
The new funding will allow Heyday to expand its franchise of its high-touch physical experience in studios and innovation in delivering personalized skincare.
According to the Heyday website, there are six studios located in Manhattan and one in Philadelphia. Two more are in Los Angeles but are temporarily closed due to the pandemic.
“This strategic funding will enable us to accelerate our growth and deliver on our vision of delivering highly personalized skincare solutions,” says Adam Ross, CEO & Co-founder of Heyday. “We are proud of the industry-leading in-store facial experience we have built and excited to expand across the U.S. while innovating digital experiences to meet consumers’ daily skincare needs in a differentiated, expert way.”
The Company also announced it hired Maureen Sullivan as President, who was previously President & COO at Rent The Runway, to lead Heyday’s expansion. “Skincare is already a daily routine, yet consumers have little confidence in their skincare routines, what products to use, and how to achieve the results based on their skin type or concerns,” says Maureen Sullivan. “We’re excited to democratize access to expert-led, personalized skincare services both in-shop and online in a way that no one else can. Skincare is an industry that for years has not been putting the customer first, so we’re setting out to change that.”
Heyday’s expansion will meet the consumer both on and offline and will be inclusive of physical store expansion through a new franchise system while simultaneously digitizing its best-in-class experiences and services.
“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,” said Chris Kenny, managing partner of Level 5 Capital Partners (L5). “We are thrilled for Heyday to join our portfolio and for the opportunity to support its franchise expansion.”
L5 will also 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.
Heyday will also use the investment to expand the talent and expertise that will power the growth of their skincare platform. “Most importantly with this growth, we are able to create opportunities for the 250,000-plus estheticians across the country providing professional growth and development pathways both in the treatment room and online,” said Michael Pollak, Chief Experience Officer and co-founder of Heyday.