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Here's the 21-page pitch deck a Citi-backed fintech for freelancers used to raise $155 million from investors like hedge fund Tiger Global

Published by Business Insider on Tue, 04 May 2021


<p><img src="https://static6.businessinsider.com/image/6090289c34af8d001859a8fe-1423/HoneyBook Oz Naama Dror co-founders.jpeg" border="0" alt="HoneyBook Oz Naama Dror co founders" data-mce-source="HoneyBook" data-mce-caption="HoneyBook cofounders Dror Shimoni, Oz Alon, and Naama Alon."></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><p>While countless small businesses have been harmed by the pandemic, self-employment and entrepreneurship have found ways to blossom as Americans started new ventures.</p><p>Half of the US population may be freelance by 2027, <a href="https://www.slideshare.net/upwork/freelancing-in-america-2017/1">according to a study commissioned by remote-work hiring platform Upwork</a>. HoneyBook, a fintech startup that provides payment and operations support for freelancers, just raised $155 million in funding and achieved unicorn status with its $1 billion-plus valuation.</p><p>Durable Capital Partners led the Series D funding with other new investors including renowned hedge fund Tiger Global, Battery Ventures, Zeev Ventures, and 01 Advisors. Citi Ventures, Citigroup's startup investment arm that also backs fintech robo-advisor <a href="https://www.businessinsider.com/betterment-acquire-wealthsimple-us-accounts-robo-advisor-fintech-wealth-management-2021-3">Betterment</a>, participated as an existing investor in the round alongside Norwest Venture partners. The latest round brings the company's fundraising total to $227 million to date.</p><p>HoneyBook, founded in 2013 by husband and wife Oz and Naama Alon, saw its business soar this year buoyed by the surge in freelance work. Oz, who once ran a bar business, and Naama, who used to be a freelance graphic designer, created HoneyBook to provide a holistic client experience management system for independent businesses.</p><p>Oz Alon told Insider in an interview that HoneyBook plans to use the proceeds to invest in areas driven by user demand,&nbsp;including facilitating members' access to capital and helping them promote themselves online.&nbsp;</p><p>"It's our job to free up [our users'] time," Alon said. "We need to figure out how to take over another thing that a robot can do."</p><p>"Creativity, craft, service, and experience -- these are human superpowers. Filing taxes or sending an invoice or reminding someone to pay us -- robots can do that," Alon said.</p><p>Alon said the number of members on the platform has doubled since last year, though he declined to share the total number of users. HoneyBook's <a href="https://www.facebook.com/groups/therisingtidesociety">Facebook community</a> for freelancers has over 76,000 members.&nbsp;</p><p>Durable Capital Partners and Tiger Global both also invested in last week in credit card and cash management startup <a href="https://www.businessinsider.com/brex-raises-mega-round-doubles-down-on-finance-management-2021-4">Brex</a> at $7.4 billion, doubling its prior valuation.</p><p>Oren Zeev, founding partner at venture capital firm Zeev Ventures, said his firm invested in HoneyBook after turning them down in prior rounds.&nbsp;</p><p>"Our relationship was not that he came [to me] every year to pitch," Zeev told Insider. "We just got together and I would try to advise him. He treated me like a friend. I never thought that I would ever invest because I thought it was past my stage, but it was so compelling that I decided to [participate]."</p><p>Here is the pitch deck this buzzy fintech startup used to raise the $155 million round. The firm redacted financials and other details before providing the deck to Insider.&nbsp;&nbsp;</p><p><img src="https://static4.businessinsider.com/image/609028d9f22c6b00185db440-2350/Screen Shot 2021-05-03 at 93931 AM.png" border="0" alt="HoneyBook 1" data-mce-source="HoneyBook" data-mce-caption="HoneyBook"></p><p><img src="https://static5.businessinsider.com/image/6090290c34af8d001859a901-2348/Screen Shot 2021-05-03 at 93943 AM.png" border="0" alt="HoneyBook 2" data-mce-source="HoneyBook" data-mce-caption="HoneyBook"></p><p><img src="https://static4.businessinsider.com/image/60902933f22c6b00185db445-2346/Screen Shot 2021-05-03 at 93955 AM.png" border="0" alt="HoneyBook 3" data-mce-source="HoneyBook" data-mce-caption="HoneyBook"></p><p><img src="https://static1.businessinsider.com/image/6090295834af8d001859a907-2344/Screen Shot 2021-05-03 at 94006 AM.png" border="0" alt="HoneyBook 4" data-mce-source="HoneyBook" data-mce-caption="HoneyBook"><img src="https://static4.businessinsider.com/image/60902976f22c6b00185db448-2342/Screen Shot 2021-05-03 at 94018 AM.png" border="0" alt="HoneyBook 4" data-mce-source="HoneyBook" data-mce-caption="HoneyBook"></p><p><img src="https://static5.businessinsider.com/image/6090299d34af8d001859a90a-2346/Screen Shot 2021-05-03 at 94030 AM.png" border="0" alt="HoneyBook 5" data-mce-source="HoneyBook" data-mce-caption="HoneyBook"></p><p><img src="https://static2.businessinsider.com/image/609029cf34af8d001859a90b-2344/Screen Shot 2021-05-03 at 94957 AM.png" border="0" alt="HoneyBook 6" data-mce-source="HoneyBook" data-mce-caption="HoneyBook"></p><p><img src="https://static3.businessinsider.com/image/609029e834af8d001859a90f-2340/Screen Shot 2021-05-03 at 94053 AM.png" border="0" alt="HoneyBook 7" data-mce-source="HoneyBook" data-mce-caption="HoneyBook"></p><p><img src="https://static5.businessinsider.com/image/609029fdf22c6b00185db451-2346/Screen Shot 2021-05-03 at 94104 AM.png" border="0" alt="HoneyBook 8" data-mce-source="HoneyBook" data-mce-caption="HoneyBook"></p><p><img src="https://static3.businessinsider.com/image/60902a1734af8d001859a910-2338/Screen Shot 2021-05-03 at 94113 AM.png" border="0" alt="HoneyBook 9" data-mce-source="HoneyBook" data-mce-caption="HoneyBook"></p><p><img src="https://static2.businessinsider.com/image/60902a30f22c6b00185db452-2346/Screen Shot 2021-05-03 at 94124 AM.png" border="0" alt="HoneyBook 9" data-mce-source="HoneyBook" data-mce-caption="HoneyBook"></p><p><img src="https://static2.businessinsider.com/image/60902a4cf22c6b00185db453-2340/Screen Shot 2021-05-03 at 94134 AM.png" border="0" alt="HoneyBook 10" data-mce-source="HoneyBook" data-mce-caption="HoneyBook"></p><p><img src="https://static3.businessinsider.com/image/60902a6034af8d001859a913-2342/Screen Shot 2021-05-03 at 94147 AM.png" border="0" alt="HoneyBook 11" data-mce-source="HoneyBook" data-mce-caption="HoneyBook"></p><p><img src="https://static2.businessinsider.com/image/60902a79f22c6b00185db456-2342/Screen Shot 2021-05-03 at 94156 AM.png" border="0" alt="HoneyBook 12" data-mce-source="HoneyBook" data-mce-caption="HoneyBook"></p><p><img src="https://static1.businessinsider.com/image/60902ab434af8d001859a915-2344/Screen Shot 2021-05-03 at 94206 AM.png" border="0" alt="HoneyBook 13" data-mce-source="HoneyBook" data-mce-caption="HoneyBook"></p><p><img src="https://static2.businessinsider.com/image/60902ac734af8d001859a916-2344/Screen Shot 2021-05-03 at 94216 AM.png" border="0" alt="HoneyBook 14" data-mce-source="HoneyBook" data-mce-caption="HoneyBook"></p><p><img src="https://static6.businessinsider.com/image/60902adb34af8d001859a917-2346/Screen Shot 2021-05-03 at 94225 AM.png" border="0" alt="HoneyBook 15" data-mce-source="HoneyBook" data-mce-caption="HoneyBook"></p><p><img src="https://static2.businessinsider.com/image/60902afdf22c6b00185db458-2348/Screen Shot 2021-05-03 at 94236 AM.png" border="0" alt="HoneyBook 14" data-mce-source="HoneyBook" data-mce-caption="HoneyBook"><img src="https://static3.businessinsider.com/image/60902b10f22c6b00185db459-2342/Screen Shot 2021-05-03 at 94245 AM.png" border="0" alt="HoneyBook 15" data-mce-source="HoneyBook" data-mce-caption="HoneyBook"><img src="https://static4.businessinsider.com/image/60902b30f22c6b00185db45b-2348/Screen Shot 2021-05-03 at 94254 AM.png" border="0" alt="HoneyBook 16" data-mce-source="HoneyBook" data-mce-caption="HoneyBook"><img src="https://static2.businessinsider.com/image/60902b4434af8d001859a91a-2344/Screen Shot 2021-05-03 at 94307 AM.png" border="0" alt="HoneyBook 16" data-mce-source="HoneyBook" data-mce-caption="HoneyBook"></p><p><a href="https://www.businessinsider.com/honeybook-pitch-deck-fintech-freelancers-unicorn-tiger-global-series-d-2021-5#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/worlds-most-expensive-liquid-thoroughbred-horse-semen-2020-3">Why thoroughbred horse semen is the world's most expensive liquid</a></p>
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