Israel-based content creation tool provider Lightricks collected $135m yesterday in a series C round featuring ClalTech, the local investment subsidiary of diversified conglomerate Access Industries.
Investment bank Goldman Sachs led the round through its growth equity arm, Private Capital Investing, while private equity and venture capital firm Insight Partners also contributed. The funding was secured at a $1bn valuation.
Founded in 2013, Lightricks has created seven subscription-based photo and video editing apps including its flagship offering, Facetune, which relies on artificial intelligence technologies to let users edit, enhance and touch up selfies.
The company will put the series C proceeds toward accelerating the development of its apps and making strategic acquisitions. It also intends to grow its headcount in Israel and the UK while also opening an office in Germany.
Kirk Lepke, vice-president at Goldman Sachs Private Capital Investing, will join Lightricks’ board of directors in connection with the round.
ClalTech had previously participated in Lightricks’ $60m series B round, which was led by Insight Partners in November 2018. Viola Ventures, then known as Carmel Ventures, had already supplied $10m in series A capital for the company in 2015.
