Picsart raises funding led by SoftBank, joins unicorn club

Picsart raises $130m in Series C funding, led by SoftBank Vision Fund 2, and is now valued at more than $1bn.

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.