Picsart Raises $130 Million at More Than $1 Billion Valuation
SAN FRANCISCO, 1st Oct 2021-- Picsart, the world’s largest creative platform has raised $130 million in Series C funding. The round was led by SoftBank Vision Fund 2 with participation from new investors G Squared and Tribe Capital, as well as existing investors Sequoia, DCM, Graph Ventures, and Siguler Guf & Company. With over $100 million in annual revenue run rate, Picsart is now valued at over $1 billion. The company has raised a total of $195 million in capital since its founding.
“Picsart is powering visual culture and breaking barriers between inspiration and creativity,” said Hovhannes Avoyan, Picsart’s founder and CEO. “We want to make the world more creative and have users in every country of the world designing, remixing, editing, and sharing on Picsart and beyond. This a...