Honor Technology
- 🦄Became a unicornOct 2021
- 📈Peak valuation$1.25 Billion ’21
- 💔Became a UnitardDec 2022
- 💸Last valuation~$112M
The rise & fall
10 moments · 2014–2026The key moments, with employee sentiment along the way.
💬 entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗; dated facts carry their source.
How it happened
Honor, founded in San Francisco in 2014 by Seth Sternberg with Sandy Jen, Cameron Ring and Monica Lo, began as an on-demand home-care service for older adults and later built software for care agencies. In August 2021 it bought Home Instead, a home-care franchisor operating in 12 countries.
On October 5, 2021, Honor closed a $70M Series E led by Baillie Gifford, plus $300M of debt, and said the round valued it at more than $1.25B. In June 2023 it cut about 15% of its headquarters staff, many of them long-time Home Instead employees.
SEC filings show T. Rowe Price funds valued their Honor preferred shares about 27% below the Series E-era price by December 2022 and about 91% below it by June 30, 2026. Sternberg still leads the company.
Mutual-fund markdowns
9 funds · SEC NPORT-PHow U.S. mutual funds fair-value this still-private company in their quarterly SEC filings.
| Fund | Class | $/sh | From peak | As of |
|---|---|---|---|---|
| T. Rowe Price Small-Cap Value Fund, Inc. | Preferred | $0.30 | -91% | Jun 2026 |
| T. Rowe Price Health Sciences Fund, Inc. | Preferred | $0.30 | -91% | Jun 2026 |
| T. Rowe Price Small-Cap Stock Fund, Inc. | Preferred | $0.30 | -91% | Jun 2026 |
| T. Rowe Price Health Sciences Portfolio | Preferred | $0.30 | -78% | Jun 2026 |
| T. Rowe Price Institutional Small-Cap Stock Fund | Preferred | $0.30 | -78% | Jun 2026 |
| T. Rowe Price Moderate Allocation Portfolio | Preferred | $0.30 | -78% | Jun 2026 |
| T. Rowe Price Spectrum Conservative Allocation Fund | Preferred | $0.30 | -78% | May 2026 |
| T. Rowe Price Spectrum Moderate Allocation Fund | Preferred | $0.30 | -78% | May 2026 |
| T. Rowe Price Spectrum Moderate Growth Allocation Fund | Preferred | $0.30 | -78% | May 2026 |
Source: SEC EDGAR Form NPORT-P (Level-3 fair-value marks). Per-share marks reflect the fund’s own valuation of a specific share class and aren’t a company-wide valuation. Last refreshed Oct 2026.
Source: Home Health Care News (Oct 5, 2021) and TechCrunch (Oct 5, 2021): $70M Series E led by existing investor Baillie Gifford plus $300M of debt led by Perceptive Advisors with Ares Management funds; company-stated valuation of more than $1.25B (peak keyed to $1.25B); $325M of equity raised since 2014; Series D (Oct 2020, $140M, led by Baillie Gifford and T. Rowe Price-advised funds) at $810M per TechCrunch. Honor (Aug 6, 2021): Home Instead acquisition, terms not disclosed. SEC NPORT-P: T. Rowe Price Small-Cap Stock Fund held 3,902,227 Honor Series D convertible preferred shares, count unchanged throughout, marked at $3.1614 a share on Sep 30, 2021 and Mar 31, 2022 (the Series E-era price), then 2.89 (Jun 2022), 2.30 (Dec 2022), 1.09 (Jun 2023), 1.17 (Sep 2023), 1.71 (Mar 2024), 1.34 (Mar 2025) and 0.30 on Mar 31 and June 30, 2026, 90.5% below the Series E-era mark (implies about $119M). T. Rowe Price Small-Cap Value (Series D and Series E preferred, 3,272,913 Series E shares) and Health Sciences carry identical marks; all holders share one adviser. Cliffwater Enhanced Lending Fund and Calamos Aksia hold Honor term loans near par (debt, not equity). Home Health Care News (June 27, 2023): about 15% of headquarters staff laid off; $625M raised. Home Health Care News (Sep 9, 2025): Matt Klitus named CFO, Shawn Lindquist chief legal officer; no financing reported.
Founders
Current roles as self-reported on LinkedIn, retrieved 2026-10-22. See our methodology.
Disclosed investors (33)
Historical funding participation; lists may be incomplete and do not establish current ownership or investor losses.
* Lead in a funding round · Crunchbase ↗ · 2026-10-22 · Methodology · Leaderboard
