Foley Represents NEA as Lead Investor in Series B Round for beehiiv

Foley & Lardner LLP represented New Enterprise Associates, Inc. (NEA) as the lead investor in the $33 million Series B funding round for beehiiv, a startup building a platform for creating and distributing newsletters. NEA was joined by additional investors Sapphire Sport and Lightspeed Venture Partners.

beehiiv sends out 1 billion emails per month from around 20,000 active newsletters. Newsletter users include both individual writers, as well as bigger organizations like Boston Globe Media and Brex. The funding will be used to expand beehiiv’s business as well as the technical capabilities of the platform.

NEA is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors, and geographies. NEA invests in technology and health care companies at all stages in a company’s lifecycle, from seed stage through IPO. The firm’s long track record of investing includes more than 270 portfolio company IPOs and more than 450 mergers and acquisitions. 

The Foley team was led by partner Louis Lehot and senior counsel Alicia D’Alba Dorner and included associates Saige Gallop and Robin Zhang.