PicsArt Secures $15M in Funding

picsart_logoPicsArt, a San Francisco, CA-based photo editing and drawing app, secured $15m in funding.

Backers included Insight Venture Partners and Sequoia Capital.

The company, which has raised $15m to date, intends to use the capital for global expansion and development of new tools for users.

Led by CEO and founder Hovhannes Avoyan, PicsArt provides amateur and professional photographers, designers, and artists with image creation and editing tools. Users can share their creative process with others through automatically generated timelapse videos.
PicsArt has a community of more than 65 million monthly active users that co-creates more than 250 million images per month.
The smartphone app can be downloaded the PicsArt app from the App Store, Google Play, Amazon or Windows.



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