The Israeli fintech company HoneyBook raised $ 250 million in Round E

The Israeli fintech company HoneyBook raised $ 250 million in Round E, led by Tiger Global Management. The company, which was founded by the couple Oz and Naama Alon together with Dror Shimoni, who also runs the Anibook, focuses on the American market and offers independent businesses solutions for financial and business management. The company employs 130 people in Israel and the United States. "I do not see any further recruitment in the near term," said CEO Oz Alon.
Previous investors in the company also joined the current round of funding, including City Ventures, Durable Capital Partners, OurCrowd and Norwest. Previous investors in the company include the Battery Fund; UpWest Foundation; Pine Wolf; Former Twitter CEO Dick Costello; Vintage; Hillsven and the Aleph Foundation. In the current round, the company has doubled its value to $ 2.4 billion. Tiger Global will invest most of its capital in the current round.
Oz Alon: "We gained confidence in demanding a very diverse business market for our product, and there is a large market. We decided to be more aggressive - and go for the market. Our improvement in business over the past six months has been very significant, and we realized it was consistent growth. To lose, and we made decisions that were very good for the company.With a significant amount of money you can make such decisions because you know you have money for many more years, and you have the ability to build a company long term and not for the immediate time.We learned that everything can change all the time, "The market will be and if there are very good investors who want to join at a fair price. So we decided it was a good idea to connect for the coming years."
Tiger Global is one of the most active American giant funds in Israel, and among the technology companies that have invested in them are the cyber company Sentinel One; Papaya Global by Einat Gaz; BigID; The fintech company Rapid and more. "We will invest heavily in our product and brand. We want a lot of people to know us and choose us, and we will turn our product into a platform that a lot of developers can connect to," says Oz. "Most of the company's growth will be in Israel. We will recruit product and development people and designers in Israel, and we will grow in all these positions."
In addition to the current round of funding, the amount of investment in the company is about $ 500 million. The amount now raised, all of which will go into the company's coffers, will be used to strengthen its position among small businesses in the US market, to develop new technological tools for small businesses, accelerate its penetration into new markets and support its growth by recruiting additional staff to Israel and the United States.
Alon added that "our platform has turned from a technology-fintech into a vibrant community and home for the self-employed and small businesses, and it also behaves as such. A professional brings in more independent friends, who find thousands more businesses like them, who face the same challenges. The past year has led to the breaking of paradigms in the way we think about our customers, in how we reach them and what services we provide them. "
According to company data, it is estimated that in the United States alone there are 12 million small, independent businesses, and the trend is only growing. Thanks to the challenging work environment during the Corona period, thousands of small businesses that operated only at the local level became digital, and as a result increased their potential market to the entire United States. All of these led to a huge boom in the number of self-employed, which began long before the Corona period. Today, the volume of orders passing through the Anibook platform stands at over $ 2 billion, and it continues to grow at a rapid pace. In fact, the company has doubled its revenue since the last recruitment, and among its customers are small businesses and freelancers in various fields: designers, consultants, coaches, coaches and more.