The Israeli Fintech startup, which has already booked over $1.9 billion in bookings for 2021 alone, has raised more than $400 million in the last six months.
Six months after raising a $155 million Series D round, Israeli Fintech company HoneyBook, launched a $250 million Series E round on Wednesday, increasing its valuation to $2.4 billion.
The company has more than doubled its annual revenue in the last year.
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Tiger Global Management led the investment, which also included Durable Capital Partners, Norwest Venture Partners, Citi Ventures, and OurCrowd. Battery Ventures, Zeev Ventures, and 01 Advisors are also investors in the company.
Tiger Global is one of the most active US funds in Israel, having invested in companies such as Papaya Global, SentinelOne, Rapyd, and BigID.
HoneyBook employs 130 people and produces an online business and financial management software that enables small business owners to automate all parts of their operations by automating workflows, contracts, and invoices.
Founded in 2013 by CEO Oz Alon, along with his wife CTO Naama Alon, HoneyBook has developed a financial management platform for small businesses and self-employed individuals.
The United States already has over 12 million small and independent enterprises, and the trend is only growing. The company has seen bookings of more than $1.9 billion on the platform in 2021 so far. Total bookings made by HoneyBook members have now topped $5 billion.
HoneyBook’s software enables business owners to streamline their client flow and manage their cash flow more efficiently. Embedded financial services such as payments and the company’s recently announced capital offering are included in this.
HoneyBook’s capital offering provides qualifying members with access to the financing they need to build their businesses while also openly integrating the repayment procedure into their existing transactions.
“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,” CEO Alon said. “HoneyBook empowers business owners with the tools and resources they need to own their independence with passion and purpose.”