PicsArt App Raises $20 Million in Funding
Posted on April 20, 2016
The PicsArt company has raised $20 million in additional funding. The company is looking to increase its user base in China and Japan. The company says its main photo-editing app has been downloaded 250 million times.TechCrunch reports that PicsArt has now raised $45 million total in venture capital funding. TechCrunch notes that PicsArt already has competiting from tools like Line Camera and Camera360.
PicsArt provides photo editing tools as well as drawing and collage making tools. The app has 75 million active users. The free app makes money through in-app purchases. The company features artists on its website and also runs contests and photo projects.
PicsArt says its community is a "network of passionate people who are dedicated to our mission of beautifying the world through creative collaboration." PicsArt also has a GifsArt app and an app for kids.