Israeli-founded business management firm HoneyBook announced this week that it has raised a $250 million Series E equity round just six months after raising a $155 million Series D round in May and becoming a unicorn at over $1 billion valuation.
The round was led by Tiger Global Management with participation from Durable Capital Partners LP, Norwest Venture Partners, Citi Ventures, and Israeli active crowdfunding platform OurCrowd.
The Series E funding values the company at over $2 billion. HoneyBook will use the investment to further advance product development and provide greater value for the diverse and growing independent workforce, a statement from the company said.
Founded in 2013 by Oz Alon, Naama Alon, and Dror Shimoni, HoneyBook is a client experience and financial management platform for independent service-based small- and medium-sized businesses, freelancers, and entrepreneurs. Its platform streamlines billing, contracts, and client communication and helps business owners stay organized.
The company is based in SanFrancisco with offices in Tel Aviv.
Honeybook members have booked more than $1.8 billion on the platform in 2021 alone and their total bookings have now surpassed $5 billion.
“The workforce of today is seeking greater autonomy over their careers, flexibility in the way they live their lives and fulfillment from the work they do–and that’s what it means to be an independent,” said HoneyBook CEO Oz Alon. “HoneyBook empowers business owners with the tools and resources they need to own their independence with passion and purpose.”
“We’re witnessing unprecedented changes in the American workforce and immense momentum towards independent work. With a proven track record of innovation and decisive action, HoneyBook is the best-in-market solution to support the success of this emerging category of independent businesses,” John Curtis, partner at Tiger Global Management added, “We look forward to strengthening our partnership with this visionary company as they power the future of work.”