Giphy, the US-based operator of an online database for animated GIF pictures, secured $55m yesterday in a series C round featuring talent agency Creative Arts Agency (CAA).
The round, closed at a valuation of $300m according to TechCrunch, was led by Lightspeed Venture Partners and featured General Catalyst Partners, RRE, Betaworks and Lerer Hippeau Ventures.
Founded in 2013, Giphy runs a searchable database that allows users to upload and share GIFs, as well as a tool that lets media companies create and upload GIFs based on their own content. It revealed in a blog post yesterday that it has “grown over 500%” in just over a year.
The round brought Giphy’s overall funding to about $75m and follows a $17m series B round in January 2015 that valued it at $80m.
CAA Ventures, which acts as CAA’s corporate venturing arm, took part in the series B, investing alongside Lightspeed, which also led that round, General Catalyst, Betaworks, RRE and Lerer Hippeau.
CAA Ventures, Lerer Hippeau, RRE and Betaworks had already invested in Giphy’s $2.4m series A round in May 2014.