HoneyBook, a San Francisco, California-based small business management platform, announced the completion of a $250 million Series E equity financing.
The round was led by Tiger Global Management, with participation from Durable Capital Partners, Norwest Venture Partners, Citi Ventures, and OurCrowd.
The financing round was completed at a company valuation of $2.5 billion, more than double the valuation of $1.1 billion, when Honeybook raised $155 million in May.
Company: HoneyBook, Inc.
Round: Series E
Funding Month: November 2021
Lead Investors: Tiger Global Management
Additional Investors: Durable Capital Partners, Norwest Venture Partners, Citi Ventures and OurCrowd
Company Website: http://www.honeybook.com/
Software Category: Small business management platform
About the Company: HoneyBook was founded in 2013 by CEO Oz Alon, CPO Naama Alon, and CTO Dror Shimoni as an event management platform but switched direction when it realized the shift in the US labor market. HoneyBook has developed a financial management platform for small businesses and the self-employed, which has seen bookings of more than $1.9 billion on the platform in 2021 so far. HoneyBook members’ total bookings have now surpassed $5 billion. The company has 130 employees, half of them at its development center in Tel Aviv, and the rest in the US.