Israeli video editing company Lightricks raises $130 million


0


Israeli photo and video-editing application developer Lightricks today announced the completion of a $130 million Series D funding round, which included $100 million in seed funding and $30 million in secondary funding. This latest funding round, valuing a $1.8 billion company, brings Lightricks’ total funding to date to $335 million. Related Articles Israeli content creation company Lightricks raises $135 million. The round was co-led by partners Insight and Hanaco Venture Capital, with the participation of existing investors, Goldman Sachs Asset Management, Clal Tech, Harel Insurance and Finance and Greycroft, and new investors Migdal Insurance, Alchuler Shaham and Shavit Capital. Lightricks will use the latest funds to further develop its tools and offer more features and services to creators. Lightricks has developed dozens of creative apps for video and photo editing for beginners through to professional artists and creators. Lightricks plans to become a one-stop shop for resources including creative tools, services, and monetization opportunities. With offices in Jerusalem and Haifa as well as in New York and Shenzhen, the company was founded by CEO Zeev Farman, CTO Yaron Enger, Nir Buchter, Amit Goldstein and Itai Zeddon. “Our mission has always been to continually strive to bring the most advanced technologies to creators and help them find new ways to express themselves. The rise of the creator economy has exacerbated the need for mobile users to streamline content creation and monetization operations. Through this latest funding, We can help elevate the creativity and capabilities of our users through the continuous advancement of our technology and offerings.” During the height of the pandemic shutdown, Lightricks saw a 90% increase in app usage across its creative tools in the United States. The number of downloads for Videoleap, the company’s most popular video editing app for professional content creators, has increased by 70% since the start of the pandemic. A survey found that nearly half of Videoleap users export their creations to TikTok in pursuit of monetized content. Lightricks users create more than 1 billion creations annually on creativity apps, and the company continues to innovate and improve its tools to better serve creators in the creator economy, having launched four brand-new apps over the past year. Published by Globes, Israel business news – en.globes.co.il – on September 19, 2021 Copyright Globes Publisher Itonut (1983) Ltd. 2021


Like it? Share with your friends!

0

What's Your Reaction?

hate hate
0
hate
confused confused
0
confused
fail fail
0
fail
fun fun
0
fun
geeky geeky
0
geeky
love love
0
love
lol lol
0
lol
omg omg
0
omg
win win
0
win
Mitchel

0 Comments

Your email address will not be published. Required fields are marked *