Financial Management Platform For Independent Service-Based Businesses HoneyBook Raises $155 Million Through Series D Funding Round Led By Durable Capital Partners

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Financial Management Platform For Independent Service-Based Businesses HoneyBook Raises $155 Million Through Series D Funding Round Led By Durable Capital Partners


 

HoneyBook, a U.S.-based financial management platform for independent service-based businesses, announced on Tuesday it raised $155 million through its Series D funding round, which was led by Durable Capital Partners with participation from Tiger Global Management, Battery Ventures, Zeev Ventures, 01 Advisors, Norwest Ventures Partners, OurCrowd, and Citi Ventures.

Founded in 2013, HoneyBook describes itself as the leading client experience and financial management platform for independent service-based business owners.

“By combining tools like billing, contracts, and client communication, HoneyBook helps business owners get organized so they can provide top-tier service at every step. The opportunity at HoneyBook is huge – service-based businesses are the largest demographic in the freelance workforce at more than 30 million Americans.”

HoneyBook further claimed it is trusted by service providers across the U.S. and Canada who have booked more than $3 billion in business on its platform.

“HoneyBook also continued to expand its market as those businesses whose work was unimpeded by COVID-19 restrictions—such as web and graphic designers, business coaches and consultants—experienced a surge in demand for their services. New HoneyBook subscribers in these industries grew more than four times in the past year. “

The company went on to add that it is planning to use the Series D’s funds to advance product development and expand internal resources, which includes dramatically increasing hiring.





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