Heyday, a skincare company founded in 2015 with 10 stores in New York, California and Pennsylvania, announced this week it raised $20 million in Series B funding led by private equity firm Level 5 Capital Partners and existing investors Lerer Hippeau and Fifth Wall Ventures.

Level 5 was founded in 2009 by tech executives to invest in high-end wellness and lifestyle brands. Heyday is the first skincare-exclusive concept in Level 5’s multi-brand portfolio, which includes boutique fitness franchise, Orangetheory Fitness, swim school franchise, Big Blue Swim School* and cryotherapy franchise, Restore Hyper Wellness & Cryotherapy.

The funding will go toward Heyday’s physical store expansion through a new franchise system, as well as the digitization of skincare consultations. The brand plans to use the funding to add “hundreds of stores” in the next five years.

“This strategic funding will enable us to accelerate our growth and deliver on our vision of delivering highly personalized skincare solutions,” said Adam Ross, CEO & Co-founder of Heyday in a press release. “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.”

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Source: 1851 Franchise

By Luca Piacentini