Equity crowdfunding was once considered a place for only the rejects of venture capital. But that narrative regularly and consistently gets rejected as the industry continues to grow, mature and expand.
In the most recent example, newsletter management platform Beehiiv just opened up its Series B in a community round allowing its fans and customers to invest. Beehiiv, a Tier-1 vc-backed company, recently raised a $33 million Series B but opened up an additional $1 million for its community on Wefunder. The company quickly maxed out its $1 million goal in only 1 hour.
This comes shortly after an ingenious marketing campaign by Wefunder that caught the attention of the Beehiiv founders which led to speculation about them launching a community round. Community interaction around the event largely implied a community round on Wefunder would be coming, but now its largely confirmed after a Test the waters (TTW) launched on Wefunder.
As of writing this, Beehiiv has over $1.8 million reserved from over 1,100 investors.
The company launched at the end of 2021 and has since grown to one of the most prominent newsletter management platforms on the market. Unlike many other basic newsletter management platforms, they have innovated nearly non-stop and continue to roll out new and creative features. They now have a whopping $12 million annual run rate (ARR) in just about two and a half years.
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