Business management software company HoneyBook raises $ 250 million

Business management software company HoneyBook raises $ 250 million

On Wednesday, November 3, Honeybook, an Israeli company specializing in business management software, announced that it had raised $ 250 million in a series of E-funds (financial rounds), six months after receiving a $ 155 million investment. Tech Unicorn, a $ 1 billion private company.

The current financial cycle is valued at more than $ 2 billion. The investment was made by Tiger Global Management, with the participation of Durable Capital Partners LP, Norwest Venture Partners, Citi Ventures and OurCrowd, according to the company.

Honeybook was founded eight years ago in San Francisco by the Israelis Oz Alone and Nama Alone, along with Dor Shimoni. The company has developed an online business and financial management platform for small businesses, entrepreneurs and freelancers, which allows them to manage clients and projects, execute contracts, raise money and automate emails. It serves customers across the United States and Canada.

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According to the company, the COVID-19 epidemic has positively affected businesses as consumer relationships with businesses have changed and more and more digital tools need to be adopted to support their growth.

“The United States is in the midst of a labor revolution, which continues to boost the free trade economy,” the company said in a statement Wednesday, with its total bookings on the site now exceeding $ 5 billion. 1.8 billion by 2021 alone.

“Today’s workers are looking for more autonomy in their lives, more flexibility in their lifestyles and more job satisfaction – that’s what self-employment means,” said Oz Alone, CEO of Honeybook. “Honeybook provides business owners with the tools and resources they need to be independent and enthusiastic. “

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Honeybook said it would use the investment to improve its product development and provide “more value” to emerging freelancers.

“We see unprecedented changes in American workers and great momentum towards self-employment. With a proven track record of innovation and decisive action, Honeybook is the best solution to support the success of these emerging independent businesses,” said John Curtis, partner at Tiger Global Management.

“We look forward to strengthening our partnership with this visionary company that will advance the future of the work,” said John Curtis.

Israeli companies that make enterprise software have been increasing their value in recent months. In September, global pay and fee management platform Papaya Global reached $ 3.7 billion for the third time in a year after raising $ 250 million in another round of funding.

The value of the Israeli-affiliated start-up deal was $ 5.5 billion last month, up from $ 1.5 billion in April, raising $ 425 million in Series D funds.

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About the Author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

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