Depositphotos, a New York-based stock photo agency with Eastern European origins, completed a $5m funding round.
The company intends to use the funds to scale development, sales and marketing operations to accelerate expansion into emerging markets, continue to challenge the market leaders in Western countries as well as to expand its R&D center in Ukraine.
Founded in 2009 by Dmitriy Sergeev, Depositphotos is a stock photo marketplace serving customers from 192 countries, providing 24/7 support in 20 languages.
The platform has a library of over 40 million stock photos, illustrations, vector images and video files, updated daily through contributor uploads that are scrutinized for quality and originality. It is used by three million members worldwide.
Depositphotos, which has over 250 employees worldwide, has acquired leading positions in emerging areas, including Central and Eastern Europe and Latin America.