SoftBank leads photo editing platform’s $130m series C round

Picsart, a photo- and video-editing platform, has raised US$130 million in series C round led by SoftBank Vision Fund 2.

G Squared and Tribe Capital invested in the company for the first time in the round, which also saw participation from existing investors Sequoia, DCM, Graph Ventures, and Siguler Guff & Company.

Photo credit: Picsart

The US-based editing platform said that it has recorded more than US$100 million in annual revenue run rate and is now valued at over $1 billion. Since its inception in 2012, the firm has raised a total of US$195 million in capital.

Picsart offers a wide range of solutions for photo and video editing. The platform has a three-tier subscription pack. The basic plan is free and comes with standard multimedia editing tools. The “gold” plan costs US$55.99 per year and has access to more tools. The top-tier plan is priced at US$74.98 per annum for teams, and has all the features of the gold plan along with some additional features.

Picsart said that more than 150 million monthly active users produce more than 1 billion edits each month on its platform. Since its launch, the company has grown its team to 800 employees, and has offices in cities across the world, including San Francisco, Bengaluru, Beijing, Berlin, Los Angeles, Moscow, New York, Tokyo, and Yerevan. Earlier this year, Picsart opened an office in the UK.

The company intends to use the freshly raised funding to further develop its AI-driven technology and explore acquisitions, among other things.