Lightricks, a Jerusalem-based software startup, raised USD 130 million in a Series D funding round co-led by Insight Partners and Hanaco Venture Capital on 19 September 2021.
Investors: New York-based firm Insight Partners and Hanaco Venture Capital co-led the latest funding round. In addition, existing investors, including Goldman Sachs Asset Management, Clal Tech, Harel Insurance and Finance and Greycroft, and New investors Migdal Insurance, Altshuler Shaham and Shavit Capital, also contributed to this round.
The objective behind the funding: The startup plans to deploy the proceeds to expand and create new platforms and tools for content creators. Its digital trade financing platform for SMEs into a global trade management hub. Lightricks aims to provide a one-stop-shop for resources, including creative tools, services, and monetization opportunities. The startup also plans to acquire similar or related startups and companies to strengthen its user base.
About Lightricks
Founded in 2013 by Farbman, Nir Pochter, Yaron Inger, Amit Goldstein, Itai Tsiddon, Lightricks is a pioneer in creativity tools that are widely popular on social media networks especially Instagram. The company’s suite of 11 apps, including Facetune, Facetune Video, and Videoleap, has over 500 million downloads worldwide across Android and Apple users and has won numerous prestigious awards. More than 100 Mil images and videos are created and shared by individuals, influencers, and brands using a Lightricks-powered app every month. Lightricks uses a freemium model for its customers.
What the Founder has to say:
Dr Zeev Farbman, co-founder and CEO of Lightricks, said, “Our mission has always been to continuously strive to bring creators the most advanced technology and help them find new ways to express themselves. The rise of the creator economy has only exacerbated the need of mobile users to streamline the content creation and monetization processes. With this latest funding, we’re able to help elevate our users’ creativity and capabilities with continued advancements to our technology and offering.” He estimated that the company might be “ready for IPO [initial public offering] in about a year.”
What the investor has to say:
“The creator economy has changed the way we, as a society, experience social networks. Audiences constantly consume information through the different content channels daily. Lightricks’ platform enables creators to have a broader, more professional and higher-quality set of tools to optimize content,” said Pasha Romanovski, co-founding partner of Hanaco Ventures.
Lightrick’s mission is to democratize creativity and empower self-expression all over the world. During the COVID-19 health crisis, Lightricks reported “tremendous growth” driving people to tap their imagination “to express themselves and earn income during the pandemic.” The company, in a statement, said that it saw a 90 per cent increase in app usage across its creativity tools in the US alone.
For more extensive analysis and Market Intelligence reports feel free to approach us or visit our website: Venture Capital Market Intelligence Reports | VCBay.
We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!
Next Article
