Developer of selfie app Facetune banks $135m

Ben Heathcote

In App Deals. August 2, 2019

Image credit: https://www.pymnts.com/

Lightricks, the Israel-based developer of photo and video editing apps including Facetune, has closed a $135 million Series C funding round at a $1 billion valuation. The investment was led by Goldman Sachs Private Capital Investing, the investment arm of the financial services firm, with additional investors including Insight Partners and ClalTech.

In a statement, Lightricks said it has raised a total of $205 million from investors to date. The company’s seven apps, including Facetune, Photofox, Videoleap, Quickshot and Pixaloop, have over 180 million downloads worldwide and nearly three million paying subscribers.

“We’re excited to reach this milestone, but we’re just getting started on our mission to create fun and powerful tools that reimagine the way content is created all over the world,” said co-founder and CEO Zeev Farbman.

“As we accelerate our expansion, the additional funding will cement our position as the leader in mass-market content creation, which is proving to be a multi-billion-dollar industry.”

The funding will be used to speed up development of more powerful, AI-enhanced content creation tools, by making strategic acquisitions and expanding the company’s offices around the world.

Lightricks also aims to “significantly grow” its current team of 250 in Israel and its London office and to open third office in Germany.

Kirk Lepke, vice president at Goldman Sachs Private Capital Investing, will join the Lightricks board of directors as part of the investment round.