San Francisco-based Picsart, developer of a creative platform for photos and videos, announced it has raised $130 million in Series C funding led by SoftBank Vision Fund 2. The round also included participation from new investors G Squared and Tribe Capital, as well as existing investors Sequoia Capital, DCM Ventures, Graph Ventures and Siguler Guf & Company.
With the funding, Picsart is now valued at more than $1 billion.
Since its founding in 2012 by chief executive Hovhannes Avoyan, the company has now raised a total of $195 million in capital.
Source: Press release
For more info on the company and what led Sequoia to lead its Series A round in 2015, read “Adobe who? Sequoia-backed PicsArt turns photo editing social” in Venture Capital Journal.