Business software firm HoneyBook valued at $2.4 bln after Tiger Global-led funding

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Nov 3 (Reuters) - HoneyBook, a institution that helps freelancers with lawsuit absorption and different concern functions, said connected Wednesday its latest backing circular of $250 million, led by concern elephantine Tiger Global Management, had valued it astatine $2.4 billion.

The latest money infusion has helped San Francisco-based HoneyBook more than treble its valuation from its erstwhile circular successful May this year, and has brought its full fundraise since its inception successful 2013 astatine $498 million.

The circular besides drew investments from Durable Capital Partners, Norwest Venture Partners, Citi Ventures and OurCrowd.

Venture superior firms person poured wealth into concern bundle developers, betting connected a post-pandemic displacement successful enactment preferences.

Deel, a institution that offers payroll and compliance tools to easiness distant hiring, was valued astatine $5.5 cardinal aft a backing past month, portion coding level GitLab Inc (GTLB.O) besides had a beardown marketplace debut precocious and is valued astir $16.6 billion, according to information from Refinitiv. work much

"The workforce of contiguous is seeking greater autonomy implicit their careers," Chief Executive Officer Oz Alon said, adding that specified trends volition proceed adjacent aft the pandemic.

The request for tools to negociate back-end concern tasks grew arsenic much radical shunned accepted employment and turned autarkic concern owners, adding to the entreaty of HoneyBook, the institution said successful its statement.

HoneyBook's level helps autarkic businesses enactment organized by streamlining lawsuit flow, managing currency travel and helping customers with lawsuit communications and payments.

Its customers, which see web designers, photographers and florists, besides usage HoneyBook's superior merchandise to use for loans, which travel with nary precocious fees.

Reporting by Niket Nishant successful Bengaluru; editing by Uttaresh.V

Our Standards: The Thomson Reuters Trust Principles.

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