# Honey Science Corporation

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/honey-science

- Industry: Internet
- Headquarters: Los Angeles, US
- Website: www.joinhoney.com
- Total disclosed funding: $27M
- Latest round: Series C (Mar 2, 2017)
- Investors on record: 9

## About

Honey Science Corporation is a technology company that enhances online shopping by providing automated coupon and promo code discovery services, enabling users to save money seamlessly during their purchases.Honey Science Corporation was founded in 2012 and is headquartered in Los Angeles, US. The company provides tools that streamline online shopping experiences. In November 2019, PayPal, Inc. agreed to acquire Honey for approximately USD 4 billion in cash, with the transaction expected to close in the first quarter of 2020. The founder, Taylor Jarman, had previously established other ventures prior to launching Honey. Since inception, Honey has participated in a total of 5 deals, with the most recent deal occurring on November 20, 2019. The company has raised a total of USD 4,000 mn to date, primarily through the TRADE SALE.Honey offers a suite of digital tools designed to enhance the online shopping experience for consumers. Its core offering is an automated coupon and promo code discovery service that searches over 30,000 e-commerce sites to find and apply discounts during checkout. This service is accessible via a browser extension and a mobile app, allowing users to earn rewards through the Honey Gold program. Targeting budget-conscious shoppers, Honey primarily serves consumers in the United States, Canada, and various regions in Europe, supporting savings across a wide range of products, including electronics and fashion items. The company boasts over 17 million members who utilize its services.Honey generates revenue mainly through partnerships with retailers and affiliate marketing agreements. The company earns commissions from retailers when users access coupons or rebates via Honey while shopping online, effectively directing traffic and facilitating sales. The revenue model includes direct-to-consumer interactions through the Honey app or browser extension, and it is further supplemented by the Honey Gold rewards program, where users earn points for purchases that are redeemable at select retailers. The company does not disclose specific pricing plans for its services, but its coupon discovery tools and rewards program are fundamental to its revenue-generating strategy.Following the recent acquisition by PayPal in November 2019, Honey Science Corporation is expected to leverage its new resources to enhance its product offerings and expand its reach. Future initiatives include the development of new products aligned with PayPal's capabilities, although specific details on product launches have not been disclosed. Honey aims to strengthen its presence in North America and Europe, capitalizing on its established user base and expanding into new geographic regions. The funding from the acquisition will facilitate these growth strategies, positioning Honey for further integration within the PayPal ecosystem.

## Funding rounds

- Series C, Mar 2, 2017, $17M — Anthos Capital, Ludlow Ventures, Cendana Capital, Mucker Capital, Wonder Ventures
- Series B, Oct 10, 2016, $5M — Ludlow Ventures, Plug and Play, Mucker Capital, BAM Ventures, SXE Ventures, Zuma Partners
- Series A, Dec 4, 2015, $4.8M — Ludlow Ventures, Plug and Play, Mucker Capital, BAM Ventures, SXE Ventures

## Investors

- Ludlow Ventures (https://capitalatlas.ai/funds/ludlow-ventures) — Series A, Series B, Series C
- Plug and Play (https://capitalatlas.ai/funds/plug-and-play) — Series A, Series B
- Mucker Capital (https://capitalatlas.ai/funds/mucker-capital) — Series A, Series B, Series C
- BAM Ventures (https://capitalatlas.ai/funds/bam-ventures) — Series A, Series B
- SXE Ventures (https://capitalatlas.ai/funds/sxe-ventures) — Series A, Series B
- Zuma Partners — Series B
- Anthos Capital (https://capitalatlas.ai/funds/anthos-capital) — Series C
- Cendana Capital (https://capitalatlas.ai/funds/cendana-capital) — Series C
- Wonder Ventures (https://capitalatlas.ai/funds/wonder-ventures) — Series C