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HoneyBook , a startup last valued in late 2021 at $ 2.4 billion , tell TechCrunch that it hit $ 140 million in annualized fall back revenue ( ARR ) .
This makes HoneyBook one of the few startups with peak - VC - era valuations to report their financials after the market cooled .
Many startup that arouse in 2021 and have not lift since then continue under pressure to bring forth the revenue needed to formalise their antecedently inflated valuations , and many may not survive much longer .
But HoneyBook is doing so well , it see no reason to still keep its revenue metric secret .
HoneyBook offers business management software package for independent overhaul - based enterpriser such as photographer , event planners , and interior designer . Its lastraise was a $ 250 million Series Efrom Tiger Global Management about three and a half years ago .
fall in that HoneyBook is still value at $ 2.4 billion , the latest ARR bod implies a valuation multiple of about 17 time ARR .
While there are no gruelling - and - riotous pattern for value private companies , investors say that late - degree pre - AI era software companies are generally priced not much otherwise from their public mart comparables . Meritech SaaS Index shows that companies growing at25 % or more a yearare now price at a median of 13 times their ARR .
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So what could peradventure free the somewhat high - than - average multiple for HoneyBook ? One word : AI . This hebdomad , the company premise new AI functionality that helps users decide how to price services and serve their client better .
The company exact it is uniquely positioned to assist entrepreneurs make business decisions with AI because it has information on how similar small business owners price their service and grow their client lists .
HoneyBook ’s AI is engraft into its current offering that includes a CRM , handles billing and defrayment , and gives eligible users access to the fund for clientele ontogeny .
Jeff Crowe , senior managing partner at Norwest and a HoneyBook investor , trust the caller can turbo - buck its business with AI .
“ Solopreneurs , like photographers , do n’t have the prison term or the business apprehension ” to mean strategically about how to grow their business , Crowe say .
The promise is that the new functionality will serve HoneyBook ’s exist drug user grow their own businesses , and as a result , the startup will make more money from the larger volume of transactions it processes .
