Today one of our early portfolio startups HoneyBook announced it’s Series D round of $155M at over $1 billion valuation. We are very excited and thrilled for the whole team and the founders Oz, Naama and Dror recognized in 2013 a trend towards self-employment growing but saw that independent service-based businesses were not set up to succeed in a digital age.
HoneyBook partners with service-based business owners who use the platform every day to communicate with their clients, manage projects and get paid while providing top-tier service every step of the way. At more than 30 million Americans, service-based businesses are the largest demographic within the freelance workforce.
HoneyBook combines on its platform tools like billing, contracts and client communication, with the goal of helping business owners stay organized. Since its inception, service providers across the U.S. and Canada such as graphic designers, event planners, digital marketers and photographers have booked more than $3 billion in business on its platform.
For us at UpWest this is a story of incredible conviction in a team and market as we were the first check of pre-seed that helped launch Honeybook into it’s incredible journey of navigating the freelancer and SMB market. From a tiny apartment in San Francisco a vision unfolded into a working product and a startup that feels more like a family.
You can read more about our perspective on the Honeybook story in this piece by UpWest Founding Partner, Gil Ben Artzy.