PicsArt, a San Francisco, CA-based creative platform, raised $130 million in Series C funding.
The round was led by SoftBank Vision Fund 2 with participation from new investors G Squared and Tribe Capital, as well as existing investors Sequoia, DCM, Graph Ventures, and Siguler Guf & Company.
The company intends to use the funds to expand its AI-driven technology, prosumer tools, explore acquisitions, and continue building its team.
Company: PicsArt, Inc.
Raised: $130.0M
Round: Series C
Funding Month: August 2021
Lead Investors: SoftBank Vision Fund 2
Additional Investors: G Squared, Tribe Capital, Sequoia, DCM, Graph Ventures, and Siguler Guf & Company.
Company Website: http://picsart.com/
Software Category: a creative platform
About the Company: Led by Hovhannes Avoyan, founder and CEO, Picsart is a creative platform whose community, every month, creates, remixes, and shares millions of visual stories using its editing tools. Picsart has amassed a large open-source content collection, including free-to-edit photos, stickers, backgrounds, templates, and more. It is available in 30 languages for free and as a subscription on iOS, Android, and Windows devices. The company has more than 800 employees in nearly a dozen hubs around the world, including San Francisco, Bangalore, Beijing, Berlin, Los Angeles, Moscow, New York, Tokyo, and Yerevan.
Source: https://www.finsmes.com/2021/08/picsart-raises-130m-in-series-c-valued-at-more-than-1-billion.html