Lightricks, the Israel-based maker of image and video editing apps, just raised $130 million in a Series D funding round that brings the group’s valuation to $1.8 billion.
The round was co-led by Insight Partners and Hanaco Venture Capital, and participation from existing investors including Goldman Sachs Asset Management, and Clal Tech.
Lightricks flagship apps include Facetune 2 – a photo editing app – and Facetune Video to edit and retouch videos. The group also makes an app called Filtertune which boasts plenty of personalised filter and professional editing tools.
What makes Lightricks app different is that they aim to create a photorealistic effect. At the same time, users get access to plenty of filters and presets, including virtual make-up options and AR stickers to improve their photos.
To date, the company’s apps have been downloaded over 500 million times globally and won some serious awards, such as the Apple App of the Year, the Apple Design Award, and Apple’s and Google Play’s Best of the Year.
“Our mission has always been to continuously strive to bring creators the most advanced technology and help them find new ways to express themselves,” explained Zeev Farbman, Co-founder and CEO of Lightricks. “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.”
Earlier this year, Lightricks appointed Shaul Meridor, the former head of Israeli Finance Ministry’s Budget Department, as CFO.