#SME / HoneyBook raises $155M in Series D round

The company provides tools like billing contracts and client communication to help service-based small businesses and freelancers organize their business. Founded in 2013, it has booked over $3 billion in business on its platform.

[Co-founder:] “What we’re trying to elevate and give [our members’] the power to do is streamline communication from the beginning to the end of the project, but at the same time retain more customers, because they give them the best experience for every stage.”

For instance, the company tripled annual recurring revenue in 12 months and it saw its new subscribers more than double in the past year. In the past nine months, members booked over $1 billion in business on the platform.