Picsart, a photo and video editing app, was valued at over $1 billion on Thursday after SoftBank Vision Fund 2 led a $130 million funding round in the San Francisco-based company.
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Venture capital firms GSquared and Tribe Capital also took part in the Series C round, along with existing investors Sequoia Capital, DCM, Graph and Siguler Guff.
With more than 150 million monthly active users spanning 180 countries, Picsart has raised $195 million in capital since its launch in 2012 and recorded more than $100 million in annual revenue run rate.
Picsart said funds raised from the latest round will be used for acquisitions, developing user tools and for expanding its artificial intelligence-driven technology.
It has more than 800 employees across cities including New York, Bangalore, Berlin, Moscow, Tokyo and Yerevan.
