Award-Winning App Developer Lightricks Raises $ 130 Million Series D to Power Expansion and User Champions in Creator Economy
NEW YORK & JERUSALEM – (COMMERCIAL THREAD) –Lightricks, creator of the world’s leading photo and video editing applications, including Facetune2, Facetune Video, and Video jump, today announced $ 130 million in Series D funding. The round includes $ 100 million in primary funding and $ 30 million in secondary funding, bringing Lightricks’ total funding to date to $ 335 million. dollars and the company’s latest valuation at $ 1.8 billion. The round was co-led by global private equity and venture capital firm Insight Partners and New York-based Hanaco Venture Capital, with participation from existing investors Goldman Sachs Asset Management, Clal Tech, Harel Insurance and Finance and Greycroft, and new investors Migdal Insurance. , Altshuler Shaham and Shavit Capital. Lightricks leveraged this strategic D-Series to fuel the expansion of its suite of tools and offer more features and services to creators, further strengthening its position as a leading player in the burgeoning designer economy.
In just over eight years since its inception, Lightricks has grown to develop dozens of creativity apps for users in all countries of the world, from beginners to professional artists and designers. In the wake of this current funding cycle and the booming creator economy, Lightricks will aim to grow the business by initiating strategic mergers and acquisitions and creating new platforms and tools specifically for professional creators. Lightricks plans to add to its already extensive offering with the goal of becoming a one-stop-shop for resources, including creative tools, services and monetization opportunities.
âOur mission has always been to continuously strive to bring the most advanced technology to creators and help them find new ways of expressing themselves,â said Zeev Farbman, co-founder and CEO of Lightricks. âThe boom in the creator economy has only exacerbated the need for mobile users to streamline content creation and monetization processes. With this latest funding, we are able to help elevate the creativity and capabilities of our users through continuous advancements in our technology and our offering.
Lightricks applications have seen tremendous growth over the past year, with millions of people turning to creativity tools to express themselves and earn income during the pandemic. At the height of the pandemic lockdown, Lightricks saw a 90% increase in the use of apps in its creativity tools in the United States. The number of downloads for Videoleap, its most popular video editing app for professional creators, has increased by 70% since the start of the pandemic. . A survey found that almost half of Videoleap users export their creations to TikTok in search of monetized content. Lightricks users create more than a billion creations per year on Creativity Apps, and the company continues to innovate and improve its tools to better serve creators in the Creator Economy, having launched four fully-featured apps. news over the past year.
“We’re excited to continue to team up with Lightricks to help further professionalize the world of content creation,” said Thilo Semmelbauer, Managing Director at Insight Partners. âWe look forward to Lightricks building the future of this industry by continuing to provide creators with the highest quality and most valued tools and technology. Lightricks allows people to show off their individuality and brand on social media, whether it’s for self-expression or for monetization.
âThe designer economy has changed the way we as a society experience social media. The public consumes information daily through the various content channels. Lightricks’ platform gives creators a larger, more professional, and better set of tools to optimize content, âsaid Pasha Romanovski, co-founding partner of Hanaco Ventures. âAt a time when we see content creators monetizing social media content to new levels, it’s clear that Lightricks’ platform has the ability to create a one-stop shop that will be meaningful to its users. ”
Lightricks’ popular suite of creativity apps currently includes social media editing tools such as Facetune2, Facetune Video, and Filter adjustmentgeneral creativity photo and video editing tools such as Video jump, Jump in motion, Photo jump, Artleap, Leap of light, and Beatleap, and the Boosted app which is Lightricks’ social media toolkit for small businesses.
To access the Lightricks media kit, including visuals, please click here.
For more information on Lightricks, please visit www.lightricks.com.
Lightricks is a pioneer in innovative technology that leads to watershed moments throughout the creation process. In an effort to push the boundaries of technology to reinvent the way creators express themselves, the company brings a unique blend of cutting-edge academic research and design to every user experience. Lightricks’ suite of apps has over 500 million downloads worldwide and has won numerous prestigious awards including Apple’s App of the Year, Apple Design Award, and Best of the Year. ‘Apple and Google Play. With five international offices and funders including Goldman Sachs Asset Management, Insight Partners, Greycroft, ClalTech and Viola Ventures, Lightricks continues to empower creators as soon as inspiration strikes.
ABOUT INSIGHT PARTNERS
Insight Partners is a leading global venture and private equity firm investing in high-growth ScaleUp technology and software companies driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies around the world and has raised over $ 30 billion in capital commitments through a series of funds. Insight’s mission is to find, fund and work successfully with visionary executives, providing them with hands-on and hands-on software expertise to drive long-term success. Through its people and portfolio, Insight fosters a culture around the belief that ScaleUp businesses and growth create opportunity for all. For more information on Insight and all of its investments, visit insightpartners.com or follow us on Twitter @insightpartners.
ABOUT HANACO VENTURES
Hanaco Ventures is a New York and Tel Aviv-based venture capital fund that invests in emerging and early stage start-ups in the global tech ecosystem. Hanaco partners with founders around the world, helping them become leaders in their category valued by their customers. Our focus areas include Agtech, Agribusiness, Foodtech and Digital Health, as well as software companies in the SaaS, Cyber ââand Fintech sectors.