Israeli software firm Lightricks raises $135 million at $1 billion valuation

[July 31, 2019]  TEL AVIV (Reuters) - Israeli software company Lightricks, the creator of several photo and video editing apps, said on Wednesday it has raised $135 million in financing at a $1 billion valuation.

The round was led by Goldman Sachs Private Capital Investing with participation from additional investors including New York-based Insight Partners and Israel's ClalTech. The latest financing brings Lightricks’ total funding to date to $205 million.

Lightricks' seven apps have over 180 million downloads and nearly 3 million paying subscribers. It said it has tripled revenue annually over the past three years.

The investment will be used to accelerate development of more artificial intelligence-enhanced tools, by making strategic acquisitions and expanding the company’s offices. Lightricks aims to significantly grow its team of 250 across Israel and the UK and open a third office in Germany.

(Reporting by Tova Cohen)

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