Total amount raised
$195 Million
Latest funding date
8/1/2021
Location
Picsart has successfully raised funding over 5 rounds, with the latest being a Series C round involving 8 investors, including SoftBank Vision Fund.
The platform is backed by 12 investors, with notable names such as Tribe Capital and Graph Ventures.
What Is Picsart?
Picsart is a dynamic photo and video editing platform that also serves as a creative community. The company operates in various industries, including Generative AI, Graphic Design, Photo Editing, Photography, Software, and Video Editing.
Founded in Hallandale, Florida, Picsart has grown significantly, employing between 501 and 1000 people. The platform offers a range of tools for editing and creating visual content, making it a popular choice for both amateur and professional creators.
How Much Funding Has Picsart Raised?
- Series A (June 2015)
- Amount Raised: USD 15,000,000
- Date: June 2015
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and enhance product offerings.
- Series A (February 2015)
- Amount Raised: USD 10,000,000
- Date: February 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the user base and improve the platform's capabilities.
- Series B (April 2016)
- Amount Raised: USD 20,000,000
- Date: April 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand market reach.
- Series B (July 2019)
- Amount Raised: USD 20,000,000
- Date: July 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Approximately USD 600,000,000
- Motivation Behind the Round: To scale the business, enhance product offerings, and expand the user base.
- Series C (August 2021)
- Amount Raised: USD 130,000,000
- Date: August 2021
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Over USD 1,000,000,000
- Motivation Behind the Round: To expand AI-driven technology, enhance prosumer tools, explore acquisitions, and build a world-class team.
Total Amount Raised: USD 195,000,000. Current Valuation: Over USD 1,000,000,000.
Key Investors
- SoftBank Vision Fund 2
- Details: SoftBank Vision Fund 2 is a venture capital fund managed by SoftBank Group, focusing on investing in technology companies. It led the Series C funding round for Picsart.
- Investment Focus Areas: Technology, artificial intelligence, robotics, IoT.
- Notable Investments: Uber, WeWork, ByteDance.
- Sequoia
- Details: Sequoia is a venture capital firm that invests in seed, early, and growth-stage companies. It is an existing investor in Picsart.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Apple, Google, Airbnb.
- G Squared
- Details: G Squared is a growth-stage venture capital firm that participated as a new investor in Picsart's Series C round. The firm focuses on technology companies.
- Investment Focus Areas: Technology, growth-stage companies.
- Notable Investments: Lyft, Spotify, Coursera.
- Tribe Capital
- Details: Tribe Capital is a venture capital firm that focuses on early-stage and growth-stage technology companies. It participated as a new investor in Picsart's Series C round.
- Investment Focus Areas: Technology, early-stage, growth-stage.
- Notable Investments: Slack, Carta, Bolt.
- DCM
- Details: DCM is a venture capital firm that focuses on early-stage technology companies. It is an existing investor in Picsart.
- Investment Focus Areas: Technology, early-stage companies.
- Notable Investments: Bill.com, SoFi, Lime.
What's Next for Picsart?
With a fresh infusion of $130 million, Picsart is poised to capitalize on several burgeoning opportunities. The platform's expansion into AI-driven technology and prosumer tools is set to attract a broader user base, particularly among Generation Z and small to medium-sized businesses (SMBs) transitioning to digital. The potential for growth is immense, with over 150 million monthly active users and a valuation exceeding $1 billion.
Future fundraising opportunities are likely, given the company's strong financial performance and the interest from high-profile investors like SoftBank Vision Fund 2. An initial public offering (IPO) could be on the horizon, although the recent capital infusion may delay this move. However, the path forward is not without challenges. Picsart must navigate a competitive market, balance the needs of diverse user groups, and continuously innovate to stay relevant.
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