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Facetune 130m series timesisrael7/26/2023 Lightricks users create over a billion creations per year on the creativity apps, and the company continues to innovate and improve upon its tools to better serve creators in the creator economy, having launched four completely new apps within the last year. A survey found that nearly half of Videoleap users are exporting their creations to TikTok in pursuit of monetized content. The number of downloads for Videoleap-its most popular video editing app for professional creators-increased 70 percent since the start of the pandemic. During the peak of the pandemic lockdown, Lightricks saw a 90 percent increase in app usage across its creativity tools in the U.S. Lightricks' apps have seen tremendous growth during the past year, with millions of people turning to the creativity tools to express themselves and earn income during the pandemic. With this latest funding, we're able to help elevate our users' creativity and capabilities with continued advancements to our technology and offering." "The rise of the creator economy has only exacerbated the need of mobile users to streamline the content creation and monetization processes. "Our mission has always been to continuously strive to bring creators the most advanced technology and help them find new ways to express themselves," said Zeev Farbman, co-founder and CEO of Lightricks. Lightricks plans to add to its already expansive offering with the goal to become a one-stop shop for resources including creative tools, services and monetization opportunities. On the heels of this current funding round and explosion of the creator economy, Lightricks will aim to expand the company by initiating strategic mergers and acquisitions and creating new platforms and tools specifically geared towards professional creators. In just over eight years since its founding, Lightricks has grown to develop dozens of creativity apps for users in every country of the world, spanning from beginners to professional artists and creators. Lightricks raised this strategic Series D to power the expansion of its suite of tools and offer more features and services for creators, further cementing its position as a leading player in the booming creator economy. The round was co-led by New York-based global private equity and venture capital firm Insight Partners and Hanaco Venture Capital, with participation from existing investors Goldman Sachs Asset Management, Clal Tech, Harel Insurance and Finance and Greycroft, and new investors Migdal Insurance, Altshuler Shaham and Shavit Capital. The round is comprised of $100M in primary and $30M in secondary funding which brings Lightricks' total funding to-date to $335M and the company's latest valuation to $1.8 billion. Lightricks, creator of the world's leading photo and video editing apps including Facetune2, Facetune Video, and Videoleap, today announced $130M in Series D funding.
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