Honey Secures $1 Million Investment from Point Nine Capital to Become the Modern Intranet
Funding Round to Fuel Sales Growth and Build Client Support Team
22 Apr, 2015, 11:30 ET
NEW YORK, April 22, 2015 /PRNewswire/ -- Honey (www.sharehoney.com), an enterprise social platform designed to make internal communications easy for companies of all sizes, has raised $1 million from Point Nine Capital (www.pointninecap.com).
Honey combines the best features of social platforms found outside the workplace with the security and structure of an enterprise intranet, to create better informed and connected companies. Companies use Honey to manage internal communications, bring transparency to the organization, drive and quantify employee engagement, and replace outdated intranets. Key features of the product include a user-friendly design, customizable groups, automated email newsletters, and a suite of administrative and analytics tools.
"The opportunity to rethink the standard intranet experience is enormous," said Rachel Kaplowitz, CEO of Honey. "This funding will allow us to ramp up our product and support teams so we can better meet the growing demand."
Launched in 2013, Honey counts global agencies, FORTUNE 500 companies, and leading media properties among its customers, which include Capital One, Sesame Street, Lowe's Home Improvement and Coca-Cola Hellenic.
Honey joins Point Nine Capital's portfolio alongside a number of leading enterprise tools that include Algolia, Humanity, Clio and Vend. The investment will be used to fund additional hiring to support sales growth, as well as continued development of an exceptional user-centric enterprise product.
"Honey's product focus and the successful implementation with big companies impressed us since the first meeting. It's very rare to see an enterprise product with so much employee engagement across various industries," said Nicolas Wittenborn at Point Nine Capital. "Their mission to bring well designed, user-centric products to the enterprise is perfectly aligned with our vision and portfolio."
Honey was incubated by Huge (www.hugeinc.com) and its parent company, Interpublic Group (NYSE: IPG), as part of the agency's Labs program, which develops new technologies to solve business challenges. The product was originally created to meet Huge's internal communications needs and to help maintain a democratic company culture amidst rapid growth. Honey began operating as a standalone business in 2014.
"I'm incredibly proud of what the team at Honey has built," said Aaron Shapiro, CEO of Huge and Chairman of Honey. "It's a product that has made life at Huge infinitely better and its rapid adoption outside of Huge is due to the hard work that went into creating something that truly meets the needs of large and growing companies. It's perfect for organizations that want to move faster and understand how better sharing is a competitive advantage, but that still need a secure and robust intranet."
For more information about Honey's feature set, pricing, and to start a free trial, visit www.sharehoney.com.
About Honey: Honey is a beautiful and intuitive social communications platform that's built to connect global teams, streamline internal communications, simplify team conversations, and support employee workflows. Honey is used, and loved, by customers of all kinds — from multinational marketing and advertising agencies, to fast-growing tech companies, and a number of Fortune 500 teams. Honey was launched in 2013 and is headquartered in New York City. Learn more at: www.sharehoney.com.
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