Funding round
HoneyBook Series C
HoneyBook, which works in business management software solutions in San Francisco, raised $28M in a Series C round announced on 21 Mar 2019, led by Citi Ventures. 8 firms took part, 7 of them already investors. It is HoneyBook's second venture round on record; the one before was a Series B in Mar 2015.
$28M
Amount raised
Not disclosed
Post-money valuation
8
Investors
1 lead
Valuation
What this round says about the price
HoneyBook did not disclose a valuation in this round. It came 48 months after HoneyBook's Series B. It is 6.2% of the $455M HoneyBook has raised in the venture rounds on record. HoneyBook raised again 26 months later: a Series D round of $155M in May 2021, at $1.00B post-money.
HoneyBook's funding rounds
HoneyBook has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Citi Ventures led the round with 7 other firms. Norwest, Aleph, Vintage Investment Partners and Hillsven Capital and 3 more had backed HoneyBook before.
Lead investor
- Citi Ventures new investor
Also in the round
- Norwest backs 215 venture-backed companies existing investor
- backs 43 venture-backed companies existing investor
- backs 40 venture-backed companies existing investor
- Hillsven Capital existing investor
- Generation Ventures existing investor
- backs 39 venture-backed companies existing investor
- backs 11 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
238 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $35M, and this round was 79% of the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 4 Mar 2019 | $60M | not disclosed | Bessemer Venture Partners |
| Tech Companies | 20 Mar 2019 | $58M | not disclosed | Union Square Ventures and True Ventures |
| Tech Companies | 20 Mar 2019 | $50M | not disclosed | not named |
| Tech Companies | 13 Mar 2019 | $50M | not disclosed | Technology Crossover Ventures |
| Tech Companies | 19 Mar 2019 | $45M | not disclosed | not named |
| Tech Companies | 13 Mar 2019 | $44M | not disclosed | Bessemer Venture Partners |
| Tech Companies | 28 Mar 2019 | $43M | not disclosed | Index Ventures |
| Tech Companies | 26 Mar 2019 | $37M | not disclosed | General Catalyst and Accel |
Sources
Where this comes from
Reported by 3 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did HoneyBook raise in its Series C round?
HoneyBook raised $28M in its Series C round, announced in Mar 2019.
Who led HoneyBook's Series C round?
Citi Ventures led it, with Norwest, Aleph, Vintage Investment Partners, Hillsven Capital and Generation Ventures and 2 more.
What was HoneyBook's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Tech Companies?
238 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $35M, and this round was 79% of the median.
Did HoneyBook raise again after this round?
Yes: a Series D round in May 2021 of $155M at $1.00B post-money.