Fintech HoneyBook passes $1B valuation after landing $155M Series D

Fintech HoneyBook passes $1B valuation after landing $155M Series D

Mass layoffs during the pandemic turned many people into “solopreneurs” and HoneyBook wants to help them manage their businesses.

The San Francisco-based company raised $155 million in Series D funding to continue developing its client experience and financial management platform for service-based small businesses and freelancers.

Oz Alon and his wife, Naama Alon, co-founded the company with CTO Dror Shimoni after being small business owners. HoneyBook, which is available for a monthly subscription of $40, combines billing, contracts and client communication tools to enable business owners to stay organized, CEO Oz Alon told Crunchbase News.

“We loved what we were doing, but not the business part, which involved responding quickly to billing, payments and other things when what we wanted to do was run our businesses,” he said. “We started HoneyBook to solve the community piece for small businesses so they can put their best foot forward and stay organized.”

Durable Capital Partners led the round and was joined by Tiger Global Management, Battery Ventures, Zeev Ventures and 01 Advisors, as well as existing investors Norwest Venture Partners and Citi Ventures. The new funding gives HoneyBook a total of $248 million in venture-backed funding since the company was founded in 2013, as well as a more than $1 billion valuation, according to Alon.

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Source: Fintech HoneyBook Passes $1B Valuation After Landing $155M Series D – Crunchbase News