HoneyBook raises $28m in Equity Funding

BFSI News

HoneyBook-raises-28m-in-Equity-Funding HoneyBook raises $28m in Equity FundingHoneyBook, a San Francisco, California-based business management platform for creative solo entrepreneurs and freelancers, as per recent press reports, has raised $28 million in equity in a Series C funding round.  The funding round was led by Citi Ventures, a Palo Alto, California-based venture capital firm, and was participated by all the existing investors, including Norwest Venture Partners and Aleph.

As of now, the San Francisco-based fintech has exceeded $1 billion in bookings through its platform, streamlining all business aspects of small business owners, from capturing leads, through to delivering proposals, through to sending invoices to accepting payments.

Speaking on this context, Oz Alon, HoneyBook founder and CEO, says, “As the future of work changes and many individuals, especially millennials and Gen Z, are choosing self-employment as their preferred work lifestyle, we must rethink every aspect of the intersection between life and managing a business”.

Moreover, HoneyBook is determined to offer creative solo entrepreneurs and freelancers in the US with the necessary tools needed to manage and grow their respective businesses. The HoneyBook platform addresses issues like contracts, client communications, invoicing and payments, through partnerships with financial institutions like Citi.

Ornit Shinar, director and venture investing lead, Israel, at Citi Ventures says, “We are in the midst of a period of extensive changes in societal structures and economic models.  The fintech ecosystem is producing more and more breakthrough innovations that serve the needs of modern consumers, and we believe, as a pioneer in its space, HoneyBook can become a market leader in the US”