Facetune Developer Secures Additional Funding to Change How the World Creates Content
Jerusalem-based Lightricks completed a $60 million round, out of which $45 million will be used to buy stock off existing shareholders
Jerusalem-based startup Lightricks Ltd. completed a $60 million funding round led by New York-based Insight Venture Management, LLC. Of the sum, only $15 million will go to the company, the remainder to be used to buy stock off existing shareholders, according to a company spokesman. Tel Aviv-based Claltech, the Israeli tech investment vehicle of New York-based holding company Access Industries, also participated in the round.
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VentureBeat first reported the story.
Lightricks designs and develops content creation, image, and video editing applications, including selfie-editing app Facetune, and visual editing app Enlight. The company’s apps have around 100 million downloads and just under 1 million subscribers, according to company statements.
Facetune by Lightricks. Photo: Lightricks
Founded in 2013, the company employs 150 employees in offices in Israel, New York, and London, according to Pitchbook data. Lightricks expects to bring in $70 million in revenues in 2018.
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The company will use the funding to double in size and recruit an additional 150 employees for its Jerusalem and London offices, the company said in a statement.
