July 31, 2019 / 11:30 AM / 7 months ago

Israeli software firm Lightricks raises $135 million at $1 billion valuation

TEL AVIV (Reuters) - Israeli software company Lightricks, the creator of several photo and video editing apps, said on Wednesday it has raised $135 million in financing at a $1 billion valuation.

The round was led by Goldman Sachs Private Capital Investing with participation from additional investors including New York-based Insight Partners and Israel’s ClalTech. The latest financing brings Lightricks’ total funding to date to $205 million. 

Lightricks’ seven apps have over 180 million downloads and nearly 3 million paying subscribers. It said it has tripled revenue annually over the past three years. 

The investment will be used to accelerate development of more artificial intelligence-enhanced tools, by making strategic acquisitions and expanding the company’s offices. Lightricks aims to significantly grow its team of 250 across Israel and the UK and open a third office in Germany.

Reporting by Tova Cohen

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below