HoneyBook secures $28M in funding towards successful freelancing

The gig economy continues to flourish, with one estimate suggesting that the amount of workers in the States with an "alternative work arrangement" could be as high as 57 million. This, alongside Staffing Industry Analysts' report of the global independent worker market being worth approximately $3.7, makes the industry a ripe fruit to pick.

HoneyBook is cashing in on the craze with a platform that connects creatives with clients. The San Francisco-based UpWest Labs alum, which offers a financial and business management service for freelancers and “solopreneurs,” recently  announced that it has raised $28 million in series C funding led by Citi Ventures, with participation from all existing investors, including Norwest Venture Partners and Aleph. This brings its total raised to $74 million, according to Crunchbase, following a $22 million series B in March 2015 and a $10 million series C in June 2016.

CEO Oz Alon, who founded HoneyBook in 2013 with Dror Shimoni, Naama Alon, Alon, and Shadiah Sigala, said the infusion of fresh capital positions the company for growth. “As the future of work changes and many individuals, especially millennials and Gen Z, are choosing self-employment as their preferred lifestyle, we are required to rethink every aspect of the intersection between life and managing a business,” he said. “We and our customers are extremely excited about the potential this investment and partnerships with financial institutions like Citi opens for us to create innovative products and value.”

HoneyBook launched over six years ago as an online wedding album service targeting professional photographers, with organizational tools that enabled freelancers to share photos, music, videos, and other digital media with clients. Like a social network, viewers could favorite and comment on uploads and share their own content through a “guest uploads” section.

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