Lightricks, a developer of premium image processing software for mobile, announced today the closing of its first external financing, in the amount of $10 million led by Israeli venture capital firm, Carmel Ventures
In less than two and a half years since its founding, Lightricks has reached a $10 million yearly revenue run rate and scaled to 30 employees, with zero external funding to date. The company has also served as Facebook’s Case Study for mobile marketing. The new funding will be used to continue driving technological innovation in the field of mobile image processing.
Dr. Zeev Farbman, CEO and Co-Founder of Lightricks, shared:
“Lightricks was built on the premise that our mobile devices are about much more than passively viewing content, and that these devices offer a unique opportunity to foster and empower creativity. Our goal is to bring the most advanced technologies from computer vision, computer graphics and image processing and channel these innovations into products that enhance the experience of our users in ways that have never been seen before.
“Carmel presented us with a unique opportunity to partner with a firm that has a shared vision and a proven ability to help companies grow into global market leaders. This funding enables us to expand our operations and continue surpassing expectations of what can be achieved on mobile devices.”
Carmel Ventures, part of the Viola Group, is a leading Israeli Venture Capital firm that has invested in global technology powerhouses like Outbrain and IronSource.
Daniel Cohen, General Partner at Carmel Ventures, declared:
“What Lightricks has achieved to date is remarkable, and what struck us was the teams’ vision and will to build a world class company. Lightricks possesses a rare combination of proprietary core technology alongside a proven track record of creating products people want and are happy to pay for. We are constantly looking to partner with companies that have the ability to truly revolutionize a given sector, and Lightricks has the potential to reimagine people’s creativity on mobile.”
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