11/11/2023 0 Comments Lightricks facetune 130m seriesIn a statement, Lightricks said that the investment will be used to accelerate the development of more powerful, cutting-edge AI-enhanced content creation tools, by making strategic acquisitions and expanding the company’s offices around the world. Lightricks raised $60m less than a year ago, in November 2018. This staying power likely explains the start-up’s success in recent funding rounds. Criticism has primarily come from parents and organisations concerned about the implications that photo enhancement apps have on the self-esteem of young people.ĭespite these concerns, Facetune was the Apple App Store’s most popular paid app in 2017 and it has steadily remained in the app charts since. While the app is widely used, it has been a source of controversy in recent years. The most well-known of these applications is Facetune, an iOS and Android app that enables users to edit, enhance and retouch photos on a mobile device. It now has 3m paying subscribers and 180m downloads worldwide. Over the past three years, Lightricks has tripled its revenue each year, which the company attributes to its adoption of in-app subscription plans. The company was founded in 2013, developing photo and video editing apps that are used by millions of consumers and businesses worldwide. The round also saw participation from Insight Partners and Claltech, bringing Lightrick’s total funding up to $205m to date. The funding round was led by Goldman Sachs Private Capital Investing. Yesterday (31 July), Jerusalem-based software company Lightricks announced that it has secured $135m in Series C funding, bringing it to a valuation of $1bn. Another round of investment has brought Lightrick’s total funding up to $205m to date.
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