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Image-processing startup Lightricks raises $10m

The Israeli company's mobile app made a meteoric rise to the top of Apple's US AppStore chart from 283 to 2 in five days

Israeli startup Lightricks, which develops popular mobile app Facetune and Enlight, announced Wednesday the closing of a $10 million financing round. The firm's sole investor is Carmel Ventures, of the Viola Group.

The company was founded in 2013 and made a meteoric rise to the top of Apple's US AppStore chart from 283 to 2 in only five days. This is especially impressive given Facetune is a paid app costing $2.99.

Since then, Lightricks has grown at an explosive pace and is expected to reach revenue of more than $10 million. The startup employs 30 people, but is planning on doubling its workforce.

Lightricks is run by Zeev Farbman one of the five founders who said on Tuesday, "We at Lightricks believe that mobile platforms have the potential to be far more than just systems for passive consumption of content we see them as a remarkable opportunity for creativity and self-expression."

Source: Globes

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