HoneyBook, the business management platform designed for creative entrepreneurs, has hit a major milestone—reporting $140 million in annual recurring revenue (ARR). This figure, revealed publicly by the company, marks one of the rare times a startup with a sky-high valuation from the peak VC era has chosen to openly share its financial performance. And for HoneyBook, this transparency might be just what it needs to defend its $2.4 billion valuation from 2021.
Unlike many other startups that raised large funding rounds during the zero-interest-rate policy (ZIRP) era and have since gone quiet, HoneyBook appears to be thriving. The company hasn’t raised new capital since its $250 million Series E, led by Tiger Global Management nearly three and a half years ago. But instead of shrinking back, it’s doubling down—highlighting its strong ARR and introducing powerful new AI features.
HoneyBook’s software is tailored for solopreneurs and service-based small businesses—think photographers, event coordinators, and interior designers. These users rely on the platform for everything from client communication and contracts to invoicing and payment processing. But what’s helping the company stand out in today’s market is how it’s integrating AI into that toolkit.
At its current valuation of $2.4 billion, HoneyBook’s revenue translates into a multiple of roughly 17 times ARR. That’s a bit higher than the 13x median multiple seen across public SaaS companies growing 25% or more annually, according to the Meritech SaaS Index. But investors see a strong case for that premium—and the reason lies in AI-driven differentiation.
This week, HoneyBook rolled out new AI-powered tools that assist users with pricing strategies and improving client service delivery. Unlike more generic AI applications, HoneyBook leverages deep, vertical-specific data—how similar small business owners price their offerings, scale operations, and interact with clients. This puts the company in a strong position to deliver value where it’s most needed: actionable business advice for solo entrepreneurs.
According to Jeff Crowe, senior managing partner at Norwest and a longtime HoneyBook backer, this is exactly the edge the platform needs. As he sees it, solopreneurs rarely have the luxury of time—or the business training—to think critically about scaling. With AI built into their everyday workflows, HoneyBook can help these entrepreneurs grow more strategically, which could directly increase the platform’s transaction volume and overall revenue.
The timing for this AI push is strategic. As legacy SaaS firms and even newer startups scramble to justify sky-high valuations from years past, HoneyBook is showing signs of real momentum. Instead of being weighed down by expectations, it’s leaning into product innovation to drive sustainable growth.
And that’s the bet its investors are hoping will pay off: that by helping solopreneurs succeed with smarter tools, HoneyBook will solidify its position as a category leader—one that not only justifies its valuation, but potentially grows far beyond it.
