Funding round
HoneyBook Series B
HoneyBook, which works in business management software solutions in San Francisco, raised $22M in a Series B round announced on 5 Mar 2015, led by Norwest Venture Partners. 3 firms took part. It is HoneyBook's first venture round on record.
$22M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
HoneyBook did not disclose a valuation in this round. It is HoneyBook's first venture round on record, 2 years after it was founded in 2013. It is 4.8% of the $455M HoneyBook has raised in the venture rounds on record. HoneyBook raised again 48 months later: a Series C round of $28M in Mar 2019. Its next priced round, a Series D in May 2021, valued it at $1.00B.
HoneyBook's funding rounds
HoneyBook has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Norwest Venture Partners led the round with 2 other firms.
Lead investor
- Norwest Venture Partners new investor
Also in the round
- backs 43 venture-backed companies new investor
- Hillsven new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion, sales and marketing and scaling operations.
- Geographic expansion
- Sales and marketing
- Scaling operations
Comparable rounds
How it compares
215 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $14M, and this round was 1.6 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 30 Mar 2015 | $21M | not disclosed | not named |
| Tech Companies | 17 Mar 2015 | $17M | not disclosed | Canaan and Medtronic |
| Tech Companies | 18 Mar 2015 | $16M | not disclosed | 83North |
| Tech Companies | 5 Mar 2015 | $13M | not disclosed | New Enterprise Associates |
| Tech Companies | 26 Mar 2015 | $11M | not disclosed | Octopus Investments |
| Tech Companies | 11 Mar 2015 | $6.5M | not disclosed | The Raine Group |
| Tech Companies | 3 Mar 2015 | $5.5M | not disclosed | not named |
| Chargebee Tech Companies | 10 Mar 2015 | $5.0M | not disclosed | Tiger Global |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did HoneyBook raise in its Series B round?
HoneyBook raised $22M in its Series B round, announced in Mar 2015.
Who led HoneyBook's Series B round?
Norwest Venture Partners led it, with Aleph and Hillsven.
What was HoneyBook's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Tech Companies?
215 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $14M, and this round was 1.6 times the median.
Did HoneyBook raise again after this round?
Yes: a Series C round in Mar 2019 of $28M.