Beehiiv Attracts $33 Million to Enhance Its Sticky Newsletter Publishing Platform

With over 5 billion people using email globally, newsletters have become a popular way for businesses and individuals to reach their audience. One startup that has been making waves in this space is New York-based beehiiv, which has just raised $33 million in Series B funding. This investment will be used to expand the company’s business and enhance its technical capabilities.

Table of Contents

A Signal of the Popularity of Newsletters

The popularity of newsletters can be seen in the number of people who are using them as a marketing tool. beehiiv has been at the forefront of this trend, with 1 billion emails sent out per month from around 20,000 active newsletters. The company’s customers include both individual writers and larger organizations like Boston Globe Media and Brex.

A New Revenue Stream for Publishers

beehiiv has also introduced an advertising network that allows publishers to monetize their newsletters with ads. This new revenue stream is expected to help publishers grow their audience and increase their earnings. The company’s founder, Tyler, believes that email is one of the most enduring digital channels, but there is still immense untapped potential for publishers to grow and monetize their newsletter audiences.

Investors Believe in beehiiv’s Potential

Despite the many challenges facing newsletters, investors believe that beehiiv has a bright future ahead. Danielle Lay, partner at NEA, said: "Email is one of the most enduring digital channels, but there’s immense untapped potential for publishers to grow and monetize newsletter audiences. We believe Tyler and his team are pioneers in this space and true customer-centric builders."

The Future of Newsletters

As the popularity of newsletters continues to grow, it’s clear that beehiiv is well-positioned to take advantage of this trend. With its innovative platform and commitment to customer satisfaction, the company is expected to become a leading player in the email marketing industry.

Topics

beehiiv: A New York-based startup that provides a platform for creating and managing newsletters.
Media & Entertainment: The use of newsletters as a marketing tool has been on the rise in recent years, with many businesses and individuals using them to reach their audience.
NEA: A venture capital firm that invested in beehiiv’s Series B funding round.
Newsletters: A type of email marketing campaign that allows senders to share information with a list of subscribers.

About beehiiv

beehiiv is a New York-based startup that provides a platform for creating and managing newsletters. The company’s mission is to help publishers grow their audience and increase their earnings through email marketing. With its innovative platform and commitment to customer satisfaction, beehiiv is expected to become a leading player in the email marketing industry.

About NEA

NEA is a venture capital firm that invested in beehiiv’s Series B funding round. The company provides funding and support to startups and early-stage companies, with a focus on technology and healthcare.