Instead of just developing its own apps, it’s now on the hunt for potential acquisitions. To do so, the company’s strategy will change. In 2021, Lightricks is on track for over $200 million in revenue and plans to grow that figure by 40% in the year ahead. Its users average around 78 million monthly exports, indicating Lightricks’ sizable impact on the creator economy. And last year, Lightricks more directly responded to the growth in online video as a form of self-expression with a new selfie retouching tool called Facetune Video - essentially Facetune for the TikTok era.Īcross its suite of apps, the company now touts 29 million monthly active users, where over 5 million are paid subscribers.
It also expanded its product lineup beyond the creator crowd to bring a suite of tools to online marketers and small businesses. Over the years, the company has rolled out the more powerful Facetune 2, along with other creativity and mobile photo apps that weren’t focused on selfies. This growth wasn’t without controversy, however, as some argued how image-editing apps like Facetune took airbrushing too far, contributing to body image issues that now, Facebook’s internal research indicates, could have a negative effect on teenagers’ mental health.īut Facetune was only the beginning for what’s since become a mobile editing empire for Lightricks, at a time when everyone is trying to look their best online and create compelling content. The app quickly gained traction as online influencers tweaked their Instagram photos to look more polished, perfected and blemish-free. The company’s last round of funding was its pre-pandemic raise of $135 million, which minted the company as a unicorn.īased in Jerusalem, Lightricks has been best known for its photo-editing app Facetune, which puts Photoshop-like retouching tools into the hands of consumers. Existing investors Goldman Sachs Asset Management, Claltech, Harel Insurance and Finance, and Greycroft, also participated. The new round was co-led by New York-based VC firm Insight Partners and Hanaco Venture Capital and includes new investors Migdal Insurance, Altshuler Shaham and Shavit Capital. To date, Lightricks has raised $335 million.
Facetune app series#
The company’s newly announced Series D round includes $100 million in primary and $30 million in secondary funding, and now values the company at $1.8 billion. Facetune developer Lightricks, which operates more than a dozen subscription-based photo- and video-editing apps across iOS and Android, now has $130 million in new funding to further grow its business.
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