Heyday has received a $20 million Series B growth investment. The round was led by Level 5 Capital Partners (L5) with participation from existing investors Lerer Hippeau and Fifth Wall Venture, bringing the company’s total funding to $33 million.

Launched in 2015 by Adam Ross and Michael Pollak, Heyday began as a one-stop-shop for streamlined facials and skin care products. While the company initially had to close all 10 of its doors in the first half of 2020 when the pandemic began, its ability to pivot online allowed its ecommerce sales to grow over 700 percent. With the new funding, Heyday is gearing up for a complete online rehaul, which includes digitizing its in-store experiences and offering personalized access to an expert-led skin care routine. L5 has also committed to scaling Heyday’s high-touch physical store experiences with plans to invest in the opening of 40 franchise units over the next five years.

“The first big pillar of the capital raise is focused on expanding the digital component of our business and creating a more complete platform, whether people are purchasing online or within our shops. The second big pillar is around the necessary foundation and resources that are going into building out a best-in-class franchise business. A lot of the investment will be made in 2021 ahead of doors opening in early next year,” said Adam.

To oversee the franchise arm, the company has hired Sean Bock, who previously headed all franchise-led growth at Drybar, as Chief Development Officer. Additionally, Maureen Sullivan, who was previously President & COO at Rent the Runway, has been tapped to lead Heyday’s online expansion in the role of President of the company.

Some of the funds will also be used to create opportunities for 250,000-plus estheticians across the country. “This is a category that has been adversely impacted, and we are incredibly fortunate to be in a position where we can provide certainty to our estheticians in an uncertain environment,” said Adam. “That’s why we haven’t really spent much money on marketing as a business; instead, we invest in the team and provide them with the education and development they need.”

Michael added, “We want Heyday to be synonymous with estheticians. In a climate where so many customers are looking for answers to their skin care questions, estheticians have always been a character in the background that knows a ton but isn’t often tapped or put front and center. When we think about the physical expansion of the brand through franchising and the digital expansion in the next couple of months, we are looking at ways to offer their knowledge to more people nationwide.”

Outside of its new funding initiatives, the company continues to focus on its dedication to diversity and inclusion. Last year, Heyday committed to the 15 Percent Pledge. Currently, Black-owned brands make up 16 percent of its assortment, and they have signed on additional brands to bring the total number up to 24 percent. The company has also continued to emphasize Fitzpatrick-scale skin education to help estheticians properly treat people of all skin colors. Furthermore, Heyday’s has launched its “Consulting for Change” program to guide and mentor Black skin care entrepreneurs from everything from finance strategy to supply chain. The company revealed that they are and are already working with two emerging brands through that program.