Citi Bank Backs Business Management Startup HoneyBook

Citi Bank’s venture capital arm Citi Ventures led a $28 million funding round for online event planning startup HoneyBook Inc., the latter announced Thursday. Existing investors Palo Alto, California-based Norwest Venture Partners, and Tel Aviv-based venture capital firm Aleph Venture Capital also participated in the round.

Founded in 2013, HoneyBook is based in San Francisco and has offices in Tel Aviv. The company develops an online business and financial management platform that assists small business owners streamline all aspects of their business, automating such things as workflow, contracts, and invoices. The company has 105 employees, according to Pitchbook data.