SAN FRANCISCO: Heyday raised $555 million in a funding round led by Raine Group and Indian tycoon Azim Premji’s investment firm.
Heyday acquires consumer-goods companies that sell products on Amazon and aims to improve their design, production and marketing. It has also started its own brands.
Existing investors including General Catalyst, Victory Park Capital and Khosla Ventures also participated in the Series C financing, Heyday said in a statement Tuesday.
Heyday Chief Executive Officer and co-founder Sebastian Rymarz said that well as helping brands make their businesses more professional, Heyday also offers platforms for brands to sell products directly to consumers or establish a brick-and-mortar presence.
“We’re acquiring and we’re also incubating brands that are marketplace native,” Rymarz said in an interview, adding that the company is partnering with some celebrities to launch new products.
“What we’re doing is trying to help them make what we’re calling ‘the great leap’ from Amazon to household brand,” he said.