New York-based startup Beehiiv has secured $33 million in funding to further develop its platform for creating and distributing newsletters. The company, which has already raised a total of $46.5 million, has experienced significant growth, now sending out 1 billion emails per month from around 20,000 active newsletters.
The Breakdown
Beehiiv's CEO, Tyler Denk, described the introduction of an advertising network as a "holy grail" for advertisers, allowing them to target specific niche audiences. The company plans to invest in marketing and sign deals with larger publishers to bring more inventory into the mix.
Beehiiv's funding and growth demonstrate the continued popularity and potential of newsletters as a way to capture attention and generate revenue in the digital landscape.
