Capital Injection Utilized For Continued Market Growth, Service & Product Innovation, and Unprecedented Franchising Efforts
Heyday, the fast-growing company on a mission to provide expert skincare that empowers everyone to be their best self, today announced a $12 million Series B extension led by existing investor, Level 5 Capital Partners (L5), nearly two years after its initial $20 million Series B. With this capital injection, Heyday will continue to cement its position as the trusted leader in the skincare services sector, investing in best-in-class franchise expansion and support, while shepherding the brand’s innovation both in-person and online.
Through bullish franchising efforts, Heyday is democratizing access to expert-backed personalized skincare services across the country. Since its inception in 2015, the brand has performed over 650,000 facials within their 10+ existing owned and operated shop locations throughout New York City, Los Angeles, and Philadelphia. In 2023, Heyday will open over 30 shops, with a total of 135 committed franchise units on the horizon in major markets including Denver, Boston, Austin, Phoenix, and more.
“We’re incredibly fortunate to have an investor group who, like us, recognize the tremendous opportunity Heyday has to be the leading skincare-services brand across the U.S.,” said Adam Ross, Heyday Co-Founder and CEO. “This capital will help Heyday continue to make strategic investments that provide world-class facials and innovation for our clients, while setting the brand and our franchised partners up for outsized success.”
In addition to driving Heyday’s aggressive franchising efforts, the funds will be utilized to propel in-house innovation and the expansion of service offerings, with plans to launch a line of innovative skincare products in 2023. In order to sustain Heyday’s unparalleled franchise growth, building a sustainable support system including tech advancements, product development, a growing talent pool, and more are a critical part of the company’s strategy.
“We’re excited to continue to invest in Heyday given the clear consumer demand signal we are seeing beyond its origin markets of NYC and LA,” said Chris Kenny, Managing Partner of L5 Capital. “Heyday has a clear path to category leadership in coveted consumer segments with 40 premium franchise shops open by the end of 2023 and significant first mover advantage in the service-led skincare segment.”
Heyday is a fast-growing skincare company on a mission to provide expert skincare that empowers everyone to be their best self. Through a fleet of industry-leading physical stores, Heyday has made the facial experience more accessible and helps consumers achieve their skincare goals with the knowledge and care of talented estheticians. Heyday is changing how we take care of our skin, redefining the future of the skincare industry for the modern consumer.
About Level 5 Capital Partners
Level 5 Capital Partners was founded in 2009 by Fortune 1000 technology executives to invest in high-end wellness and lifestyle offerings. The L5 team expanded an investment to build one CorePower Yoga studio into the third largest national yoga studio operator in less than a decade. L5 leverages its proprietary & scalable local market expertise along with our centralized operating platform across our portfolio of concepts to accelerate growth. L5 has since gone on to successfully invest in the Orangetheory Fitness system, Big Blue Swim School, and Restore Hyper Wellness & Cryotherapy. L5 invests in premier, market-leading consumer brands that deliver quality services locally at scale.