Total amount raised
$195 Millions
Latest funding date
8/1/2021
Location
Picsart has successfully raised significant funding over multiple rounds, attracting a diverse group of investors.
Keep reading to explore the intricacies of Picsart's fundraising journey and the investors backing this creative platform.
What Is Picsart?
Picsart, founded in 2011 by Artavazd Mehrabyan and Hovhannes Avoyan, is headquartered in Hallandale, Florida.
As a leading digital creation platform, Picsart offers AI-powered tools for designing, editing, drawing, and sharing photo and video content.
With a workforce of 501-1000 employees, Picsart serves a diverse user base, including consumers, marketers, content creators, and businesses.
How Much Funding Has Picsart Raised?
- Series A
- Amount Raised: $10M
- Date: February 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and enhance user experience.
- Series A
- Amount Raised: $15M
- Date: June 2015
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series B
- Amount Raised: $20M
- Date: April 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance AI-driven technology and expand market reach.
- Series B
- Amount Raised: $20M
- Date: July 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: $600M
- Motivation Behind the Round: To support significant revenue growth and user base expansion.
- Series C
- Amount Raised: $130M
- Date: August 2021
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: $1B
- Motivation Behind the Round: To expand AI-driven technology, enhance prosumer tools, and explore acquisitions.
Total Amount Raised: $195M. Current Valuation: $1B.
Key Investors
- SoftBank Vision Fund
- Details: SoftBank Vision Fund is a venture capital fund managed by SoftBank Group, known for making large investments in technology companies. It aims to support transformative companies that are shaping the future.
- Investment Focus Areas: Artificial intelligence, robotics, consumer internet.
- Notable Investments: Uber, WeWork, ByteDance.
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm. It focuses on growth-stage investments in technology and software companies.
- Investment Focus Areas: Software, internet, data.
- Notable Investments: Twitter, Shopify, DocuSign.
- Sequoia
- Details: Sequoia is a venture capital firm that partners with founders to build enduring companies. It has a long history of investing in early and growth-stage companies.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Apple, Google, Airbnb.
- DCM
- Details: DCM is a venture capital firm that invests in early-stage technology companies. It has a global presence with a focus on the U.S., China, and Japan.
- Investment Focus Areas: Technology, fintech, consumer internet.
- Notable Investments: Bill.com, SoFi, Lime.
- G Squared
- Details: G Squared is a growth-stage venture capital firm. It invests in technology companies that are poised for significant growth.
- Investment Focus Areas: Technology, e-commerce, fintech.
- Notable Investments: Lyft, Coursera, Instacart.
What's Next for Picsart?
With a user base of over 150 million monthly active users, Picsart is poised to capitalize on the growing demand for digital content creation tools. The company aims to expand its AI-driven technology and enhance prosumer tools, catering to both individual creators and businesses. This presents a significant opportunity, especially as small and medium-sized businesses increasingly go digital.
Future fundraising could see Picsart attracting further investment, given its strong financial growth and market position. However, the company will need to navigate challenges such as maintaining user engagement and staying ahead of competitors in a rapidly evolving market. Balancing innovation with user needs will be crucial for sustained success.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like Picsart and gather other critical business insights.
Sign up for free on Clay and start making data-driven decisions today.
