Kapwing, a San Francisco, CA-based online image and video editing platform, raised $11M in Series A financing.
The round was led by CRV, with follow-on participation from Village Global, Sinai, Shasta Ventures and new investors Jane VC, Harry Stebbings, Vector, and the Xoogler Syndicate. CRV’s General Partner Saar Gur, an early investor in Patreon and other media companies, is joining Kapwing’s board.
The new capital will allow the company to grow its engineering team.
Co-founded by Julia Enthoven and Eric Lu, both former Google Product Managers, Kapwing is a provider of a multimedia creative platform for the browser to enable any entrepreneur, storyteller, or entertainer to create and share a story with accessible tools. It is free, fast, and fully browser-based so that creators can make and share video, image, and GIFs without needing to download and transfer huge files. The solution includes tools and collections targeted at modern social media use cases, like designing Instagram Stories, adding subtitles, clipping YouTube videos, and making memes.
More than 9,000,000 media projects have been created on Kapwing since it launched in October 2017.
Instead of charging for the tools, the company plans to monetize with its brand new Workspace, where teams can store, re-edit, and collaborate on multimedia projects.