PicsArt Announces $20 Million In New Funding From DCM And Siguler Guff
PicsArt will use funds to accelerate growth of its creative community with a renewed focus in Japan and China
PicsArt, a leading photo editing, collage and drawing app with a rapidly growing global community of creatives, announced $20 million in new funding today from DCM Ventures and Siguler Guff & Company. The company will use the funds to build new features, continue to grow its thriving community (now approaching 75M monthly active users) and to expand operations in Japan and China.
PicsArt is a new kind of mobile creativity app and community that goes beyond traditional ‘crop and filter’ features by offering professional quality image editing tools so anyone -- from a beginner to an accomplished mobile artist -- can design and create beautiful original art. PicsArt builds on this creativity to connect you with a community of millions of people worldwide -- where you can exchange your images, collaborate with others and find inspiration.
“PicsArt is connecting the world with creativity while establishing a new global platform where people can express their creative identity,” said Osuke Honda, General Partner at DCM Ventures. “The mobile phone has caught up with desktop, and consumers want and need to be more creative with images on their phones. PicsArt is at the forefront of this huge trend and poised for massive global growth. We look forward to working with them as they continue to expand their presence in Asia, where we have a big footprint, and beyond.”
“PicsArt is experiencing major user growth in Asia and throughout the world and our plan is to keep that momentum going,” said Wilson Kriegel, general manager and Chief Business Development Officer at PicsArt. “Both DCM and Siguler Guff have a big presence in Asia and with their help, we’re primed to build the very best creative mobile experience for the PicsArt community in Asia and worldwide.”
A pioneer in the collaborative editing space, PicsArt has built its service with a focus on community, creativity and content. As a result, the company has grown a global creative community who may have initially joined the platform for the powerful photo editing tools, but have stayed for the opportunity to explore and learn from artists worldwide. The company most recently released its 5.19 feature suite that includes a collage-maker, animated videos and .gifs and photography blending and enhancement tools to master today’s latest photography trends.
Download PicsArt today on the App Store, Google Play, or Windows. To learn more, go to www.PicsArt.com.
PicsArt combines a powerful set of photo editing, collage, and drawing tools with a vibrant artistic community that, together, help you express your creative identity with the world. It’s a new kind of mobile creativity experience that combines thousands of image editing tools with a global community where you can exchange your creations and collaborate with others. The company’s headquarters is in San Francisco, California and PicsArt now has more than 200 employees. For more, please visit www.picsart.com or download the app from the App Store, Google Play or the Windows Store.
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