HoneyBook Raises $250 Million at $2.4 Billion Valuation for Fintech Industry

HoneyBook is a platform that assists its clients, independent business owners, with managing client flow, cash flow, as well as streamlining the steps for selling and delivering personalized contracted services. The platform combines client, contracts, and client communication, thus helping businesses to get more organized.

The funding round Series E was led by Tiger Global Management. Along with them, such investors as Durable Capital Partners, Norwest Venture Partners, Citi Ventures, and OurCrowd participated. The recent round was taken just 6 months after the previous when the company raised $155 million.

HoneyBook, San Francisco, was founded by Dror Shimoni, Naama Alon, Oz Alon (now CEO), Shadiah Sigala in 2013. The demand for the company’s service increased due to last year’s situation when 4 million new business applications were filled. Another factor was the changing attitude to work organization itself, and the tendency to outsource work more and more. The number of subscribers last year doubled with the total sum of booking – $5 billion. “They’re looking for a platform to help them manage their client flow and cash flow, and that’s what HoneyBook does.”, Oz Alon says.

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