HoneyBook, a customer-relationship administration platform aimed toward small companies in artistic fields, introduced at present it has raised a $28 million Series C led by Citi Ventures. All of its current traders, together with Norwest Venture Partners, Aleph, Vintage Investment Partners and Hillsven Capital, additionally returned for the spherical. Citi is a strategic associate for HoneyBook and it will allow it to supply new monetary merchandise to freelancers, its co-founder and CEO Oz Alon informed TechCrunch.
This brings HoneyBook’s complete raised up to now to $72 million. It is utilizing the funds to develop its groups in San Francisco and Tel Aviv and construct new options for its person base, together with small corporations, individuals who work by themselves (“solopreneurs”) and freelancers. Like different CRMs, HoneyBook helps them develop relationships with potential new purchasers, handle initiatives, ship invoices and settle for funds, however with instruments scaled for his or her enterprise’ wants.
Alon informed TechCrunch in an e mail that one phase HoneyBook is targeted on is millennials (he cites a survey that discovered 49 p.c of individuals below 40 plan to start out their very own enterprise). HoneyBook presently claims tens of hundreds of consumers and has handed $1 billion in enterprise booked utilizing its software program, together with 75,000 members in Rising Tide, the corporate’s on-line neighborhood for artistic entrepreneurs.
Other administration software program platforms competing for the eye of entrepreneurs and freelancers embrace Tave, Dubsado and 17hats. One of the primary methods HoneyBook differentiates is by enabling its customers to just accept on-line funds with out integrating with a third-party service. Thanks to this, its customers “transact greater than 80 p.c of their enterprise on-line, considerably greater than another funds platform serving this viewers, Alon mentioned. It’s partnership with Citi may also enable the corporate to develop extra distinctive companies for its goal prospects, he added.
In a ready assertion, Citi Ventures’ Israel director and enterprise investing lead Omit Shinar mentioned “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 U.S.”