(JNS) Software company Lightricks, creator of seven photo and video editing apps including Facetune and Enlight, has become Israel’s latest unicorn startup.
The Jerusalem-based company has tripled its revenue annually over the past three years, thanks to over 180 million downloads and nearly three million paying subscribers. The latest round of funding was led by Goldman Sachs Private Capital Investing. Other participants included New York-based Insight Partners and Israel’s ClalTech.
The company itself has tripled in value in the past eight months,
According to Lightricks CEO Zeev Farbman, the investment will be used to make strategic acquisitions, expand the company’s offices and staff in Israel, the U.K. and Germany, and speed up development on artificial intelligence-based tools.
Lightricks was founded in 2013 by Israeli Ph.D. students Nir Pochter, Zeev Farbman, Yaron Inger, Amit Goldstein and former Supreme Court clerk Itai Tsiddon.
All its apps are available for free, but subscription plans unlock additional functionality.
Enlight was Apple’s App of the Year for 2015, the eleventh best-selling paid iOS app in 2016 and the recipient of an Apple Design Award in 2017.