Maker of popular selfie app Facetune lands $135 million at Series-C funding

Brad Wilsonby:

Technology

Facetune, a photo-editing app that enables people to reshape their nose, colour their gray hair, and refine their jawlines was launched about six years ago, and it rapidly jumped to the top of the download charts, becoming Apple’s most famous paid app in 2017. Despite the tough competition, the app has managed to stay abreast and remain a highly popular app. 

Lightricks, the parent company of Facetune has recently garnered a whopping $135 million in its Series C funding which was led by Goldman Sachs Private Capital Investing and has reached at $1 billion, post money valuation. Insight Partners and ClalTech had also taken part in the Series C round. 

The two investment firms also invested in Lightricks’ last round- a $60 million round led by the firms in November 2018. Based in Jerusalem, Lightricks has 260 employees working with 6 different products across three segments, including Enlight, a line of mobile photography and editing tools designed to make photo editing for beginners more accessible; Facetune and the company’s latest, enterprise-focused brand, Swish, a marketing video editor that helps companies create video ads that tell their story. 

Each of the division comes with a meaningful mind share. According to Zeev Farbman, CEO and co-founder of Lightricks, the company has witnessed 180 million downloads across its different paid apps. Since the company launched its premium membership with a subscription that offered users to access special whistles and bells, the firm has gathered a significantly high number of subscribers, as well. 

Farbman says that Facetune has crossed over 1 million subscribers, Enlight has touched about 1 million subscribers and counting in the subscribers of Swish, the approximate total figure of all the combined apps is nearly 3 million subscribers. 

He further stated that the firm is on its way to develop more such interesting, subscription-based apps that might be coming shortly to the market. 

For the major part, the firm has had a smooth journey, but there have been a few headwinds in the past.

The app has been accused of taking photo editing too far. One such instance was with Chrissy Teigen, a celebrity model who tweeted last year about the app saying that she doesn’t even know what her skin looks like anymore, it’s almost as if it’s an oil painting. 

When asked about the body image debate that the app had sparked, Farbman said the firm sees itself as democratizing retouching with educating people how powerful photo editing can be.  

Leave a Reply

Your email address will not be published. Required fields are marked *