PhotoRoom, a Paris, France-based global photo editing platform, raised $19m in Series A funding.
The round was led by Balderton Capital with participation from angels from Facebook, Hugging Face and Disney+, as well as Adjacent.
The company intends to use the funds to develop its existing software further, improve generative AI features and keep hiring talent across Europe.
Founded in late 2019 by Matthieu Rouif and Eliot Andres, PhotoRoom is an editing app for consumers, entrepreneurs and businesses worldwide looking to elevate their online imagery. By leveraging deep learning to translate pixels into objects, its advanced AI allows users to edit images in seconds. They can remove, replace or blur backgrounds. The software can be used to delete unwanted features with a Magic Retouch tool.
Since launch, the app has been downloaded 40 million+ times worldwide. It is currently available in 28 languages.
The company also recently rolled out a web-based version of its software, which makes its professional tools accessible and enables users to collaborate on images.
As a former member of the 2020 Y Combinator cohort, this latest round takes the total raised by PhotoRoom to $21m.
FinSMEs
07/11/2022