The round was led by Insight Venture Partners, with participation from Claltech. In conjunction with the funding, Harley Miller, Principal at Insight Venture Partners, will join Lightricks’s board of directors.
The company intends to use the funds:
1) to acquire shares from founders, employees, and investors in a secondary transaction and
2) to build more products and to double in size, recruiting a total of 300 employees for its Jerusalem and London offices.
Led by Dr. Zeev Farbman, co-founder and CEO, Lightricks designs and develops content creation tools, including global hit portrait editing brand Facetune and the Enlight Creativity Suite. Together, the company’s apps have about 100 million downloads worldwide and nearly 1 million subscribers. Its most recent app, Enlight Pixaloop, released in mid-September, became an instant hit with over 6 million users and nearly 200,000 paying subscribers in just two months.
This is Lightricks’ second investment round, following its initial $10m funding round from Viola Ventures. Since the first investment in 2015, the company has expanded its team from 30 employees to 150.
It is projecting revenue to exceed $100 million in 2019.
FinSMEs
21/11/2018