SAN FRANCISCO--(BUSINESS WIRE)--HoneyBook, the invite-only service empowering top event professionals, today announced it has closed $22M in a Series B round of funding led by Norwest Venture Partners, with participation from Aleph and Hillsven. With a total $32M invested to date, this funding will help HoneyBook scale its collaborative platform and make it available to even more event professionals in every major US city.
HoneyBook offers a collaborative platform that streamlines all of the elements and processes of event planning—from booking and collecting payments to collaboration—through an elegant, intuitive interface. HoneyBook has quickly become the most trusted tool for top event professionals to run their businesses and connect with their networks. In the last six months, the company has seen 10x growth, primarily from satisfied customers inviting their vendor networks to transact and do business together on the platform.
“An event professional’s purpose is to create unforgettable moments for their clients. When an event comes together, every element—from the space to the sound to the visuals—works together in harmony to create the perfect experience,” said Oz Alon, CEO, HoneyBook. Unfortunately, the processes and tools used to plan these events are too often disconnected. At HoneyBook, we believe that this process should be as fluid as the event itself. We’re here to change that by enabling event pros to collaborate effortlessly with their networks, speak the same language with each other, and deliver those ‘wow’ moments from the very first interaction with a client.”
Until recently, HoneyBook’s services have been available only by invitation in the San Francisco Bay Area, following a people-first approach which has built a community based upon trust and shared social interactions. With the Series B funding, HoneyBook will launch similar communities in Los Angeles and New York, and will accelerate its city-by-city rollout to every major hub in the US within the next 12 months. HoneyBook will also continue to focus on unrivaled customer service, building infrastructure, and engineering horsepower to support rapid growth.
“HoneyBook is part of a new breed of services that connects markets and people, around multiple transactions, creating new business opportunities that would have otherwise not existed,” said Jeff Crowe, Managing Partner, Norwest Venture Partners. “With an estimated market size of hundreds of billions, the events industry presents a ripe opportunity. HoneyBook has created a unique and very compelling ecosystem, with the right talent and proper positioning to take full advantage of it.”
The events industry, worth an estimated market size of $350B1, has traditionally been driven by paper and disparate communication systems. In a short amount of time, HoneyBook freed event professionals from the hassles of paperwork, checks, and redundant email, by providing a better, proven method for transacting payments, contract signatures and proposals. Beyond streamlining administrative processes, event vendors are also winning more business on HoneyBook by building their networks and collaborating with other professionals. With HoneyBook, event pros can focus on the creative work they love while enjoying better success with their clients and vendors.
Previous investors included Aleph, UpWest Labs, Hillsven, Ev Williams, James Currier and Stan Chudnovsky of Ooga Labs, Naval Ravikant of AngelList, Ben Ling of Khosla Ventures, Michael Birch of Bebo, and Ben Narasin.
1PWC, 2014 reported that there were approximately 1.8M business related meetings/events in the U.S. accounting for $280B in spend. According to The Knot; Planet Wedding: A Nuptialpedia, weddings contribute an additional $70B in spend before considering ancillary events.
About HoneyBook:
HoneyBook was founded in 2013 and is headquartered in San Francisco. HoneyBook is an invite-only service that empowers top event professionals to be more connected, productive, and successful with their clients and vendors. Our collaborative platform allows you to tap into the power of your network to win new business and easily work with everyone involved in organizing a single event. Whether you’re the planner in charge of a 300-guest event, a photographer leading a high-profile fashion shoot, or the host of your company’s holiday party, HoneyBook organizes your jobs seamlessly in one place—from proposals, to payments and design briefs—so you can focus on what matters most: creating unforgettable moments. Visit www.honeybook.com to request an invite.