Lightricks, a Jerusalem, Israel-based developer of subscription-based content creation tools, raised $135m in Series C funding at a $1 billion valuation.
The round, which brings total funding to $205m to date, was led by Goldman Sachs Private Capital Investing with participation from additional investors including Insight Partners and ClalTech. In conjunction with the funding, Kirk Lepke, Vice President at Goldman Sachs Private Capital Investing will join the Lightricks board of directors.
The company intends to use the funds to accelerate development of AI enhanced content creation tools, by making strategic acquisitions and expanding offices around the world.
Led by Zeev Farbman, co-founder and CEO, Lightricks is the creator of photo and video editing apps, including Facetune, Photofox, Videoleap, Quickshot, Pixaloop; and Swish, used by millions of consumers and businesses worldwide.
Its seven apps have over 180 million downloads worldwide and nearly three million paying subscribers.
The company now aims to grow its current team of 250 across Israel, the UK and opening a third office in Germany.