Picsart, A Photograph Modifying App With 200M Downloads, Lands $10M From Sequoia
Picsart, a mobile photograph modifying app and group that claims 60 million month-to-month clients, has closed $10 million in funding from Sequoia Capital.
That’s the main outdoor funding that Picsart has taken, having bootstrapped itself to profitability after being based mostly in Armenia, an Japanese European nation that isn’t exactly correctly-acknowledged for birthing tech startups.
Picsart — which has been downloaded over 200 million events thus far — differentiates itself from Instagram, which Sequoia invested in, and others by placing emphasis on its photograph-modifying choices. The app permits clients in order so as to add textual content material, stickers and make totally different tweaks previous individuals who Fb-owned Instagram presents.
Picsart has its social group-like group, nevertheless clients can also undergo totally different suppliers and take into consideration pictures from Picsart.com.
“Instagram is a social channel, we’re a inventive platform and group,” Picsart’s US-based Chief Revenue Officer Wilson Kriegel knowledgeable TechCrunch in an interview. “We think about that we’re an amplifier to what Instagram gives.”
Kriegel said that the company was not temporary on provides when it obtained right here to elevating, and that leverage gave it bigger choice on how lots it raised, and who from. Sequoia’s experience scaling tech startups like Instagram and WhatsApp was a critical objective for selecting it as “companion,” he added.
The capital itself will go within the course of accelerating the enlargement of Picsart’s userbase, and, notably, growing its enterprise with new partnerships and options inside the U.S. market.
As part of that push, Sequoia affiliate (and AdMob founder) Omar Hamoui can be part of the Picsart board, whereas CEO Hovhannes Avoyan will relocate to the U.S. to hitch Kriegel on the startup’s San Francisco office, which may lead the course of the product and usher in new staff. Picsart COO Artavazd Mehrabyan will keep at its base in Armenia, the place the company has over fifty 5 engineers.
Kriegel said that the company is targeting working with third get collectively companions — along with handset makers — to boost adoption of its service. He didn’t notably level out pre-bundling on models, nevertheless that method could be a logical answer to broaden visibility and utilization of Picsart.
Picsart’s current shopper base is fairly evenly unfold the world over, with spherical one-quarter inside the U.S., Kriegel said. Together with the U.S., the company may also be setting its sights on rising in Asia — he talked concerning the potential of Korea, whereas it recently launched an APK to a whole lot of third-celebration app outlets in China.
Kriegel revealed that Picsart is working “terribly arduous to penetrate China,” and its efforts there may embrace partnerships with established firms who know the lay of the land.
Photograph apps are a considerably congested space, nevertheless Kriegel believes that Picsart’s deep consider modifying — which he hinted may embrace video — is what separates it from the rest of the sector.
“Up to now, nobody has captured communication spherical content material materials, topics and pursuits,” he commented. “We truly provide inventive expression, we’re empowering what’s already been occurring [with the adoption of photo apps] to supply self-expression customization to our clients.”
That view is echoed by Sequoia’s Hamoui.
“The first period of photograph apps have been based completely on sharing. PicsArt’s speedy, pure progress makes the case that the next interval of expression will in all probability be based not solely on sharing, nevertheless creativity and collaboration as correctly,” he added.