Giphy, Inc., a New York-based GIF search engine, raised $17m in Series B financing.
The round was led by Lightspeed Venture Partners, with participation from General Catalyst and current investors.
The company intends to use the funds to accelerate its growth, expand its services and capabilities and grow its team.
Developed at Betaworks and founded in February of 2013, GIPHY is a GIF search engine that allows users to search, share, discover and create GIFs. Founded in 2013, it works with social networks, mobile apps, technology platforms and content creators to organize and distribute GIFs.
It works with TV hits, blockbuster films, global apps like LINE, publishers like Vox Media, celebs and bands to create and distribute GIFs.
Through partnerships, the GIPHY API is currently serving 3BN GIFs per month.
Led by Alex Chung, CEO (read our interview with him here), the company had previously raised $3.5m in Seed and Series A funding from Betaworks, RRE Ventures, Lerer Hippeau Ventures and CAA Ventures (read here). Total funding to date is $20.5m.