HoneyBook, a San Francisco, CA-based client experience and financial management platform for independent service-based businesses, raised $155m in Series D equity funding at a $1 billion valuation.
The round was led by Durable Capital Partners with participation from Tiger Global Management, Battery Ventures, Zeev Ventures, 01 Advisors as well as existing investors Norwest Venture Partners, OurCrowd and Citi Ventures.
The company intends to use the funds to advance product development and expand internal resources, which includes increasing hiring.
Founded in 2013 and led by CEO Oz Alon, HoneyBook provides a client experience and financial management platform for independent service-based businesses. By combining tools like billing, contracts and client communication, the solution allows business owners to get organized and provide service at every step. HoneyBook is used by service providers across the U.S. and Canada who have booked more than $3 billion in business on its platform.