Honeybook, a last estimated start at the end of 2021 at $ 2.4 billion, told Techcrunch that it reached $ 140 million in repeated annual revenue (ARR).
This makes Honeybook one of the few beginnings with the estimates of the peak-VC era to report their finances after the market is invited.
Many startups that were raised in 2021 and have not increased since then remained under pressure to generate the necessary income to prove their previously inflated estimates, and many may not survive much longer.
But Honeybook is doing so well, sees no reason to keep her income secret.
Honeybook offers business management software for independent service -based entrepreneurs, such as photographers, event planners and interior stylists. Its latest growth was a series of $ 250 million from Tiger Global Management about three and a half years ago.
Given that the honey book is still valued at $ 2.4 billion, the last figure means a multiple estimate of about 17 times ARR.
While there are no difficult and rapid rules for the evaluation of private companies, investors say ERA software companies in the late phase are generally priced not very different than their public market comparisons. The Meritech Saas index shows that companies growing to 25% or more a year now are price at an average of 13 times their reach.
So what can justify the multiple slightly higher than the average for the honey book? One word: he. This week, the company introduced the new functionality of the one that helps users decide how to appreciate services and serve their customers better.
The company claims to be uniquely positioned to help entrepreneurs make business decisions with it because it has data on how small businesses owners value their services and increase their client lists.
The Honeybook is embedded in its current offer that includes a CRM, deals with billing and payments, and gives qualified users access to business growth funds.
Jeff Crowe, a senior governing partner in Norwest and a honey book investor, believes the company can charge its business with him.
“Solopreneurs, like photographers, do not have time or business saving” to think strategically on how to grow their business, Crowe said.
The hope is that the new functionality will help existing Honeybook users increase their businesses, and as a result, the start will make more money from the largest volume of transactions it processes.
