- Newsletter platform beehiiv secures $33M Series B funding to expand.
- Led by NEA, investment fuels growth and technical capabilities.
- Monetization network allows creators to earn $1.2M monthly revenue collectively.
New York-based newsletter publishing platform beehiiv has secured a sweet $33 million Series B funding.
Led by NEA, alongside Sapphire Sport and Lightspeed Venture Partners, the investment fuels beehiiv’s expansion plans and technical capabilities.
The buzz around newsletters
Capitalizing on the stickiness of email newsletters in an era with nearly 5 billion global users, beehiiv has witnessed remarkable growth.
From 7,500 active newsletters in June 2023, the platform now boasts 20,000, delivering a staggering 1 billion emails monthly to audiences ranging from individual writers to major publishers.
Monetization honeypot
Aiming to sweeten the deal for creators, beehiiv recently introduced an advertising network, allowing its customers to earn around $1.2 million in monthly revenues collectively.
The platform’s “holy grail” for advertisers links niche campaigns to highly targeted audiences.
With network effects now within reach, beehiiv is setting its sights on larger publishers and increased marketing efforts to expand its inventory.
CEO Tyler Denk envisions the platform’s potential beyond content, hinting at possible forays into the broader email marketing landscape.
