PicsArt receives USD 20 million funding
PicsArt mobile app developed by Armenian specialists and designed to edit photos received USD 20 million from DCM Ventures and Siguler Guff & Company.
According to Techcrunch, PicsArt will allocate the received sum to grow the startup’s user base in China and Japan.
Although PicsArt doesn’t reveal how many users it has in Asia, the company’s general manager Wilson Kriegel says that it has seen “huge organic community and usage growth”, with China and Japan its top markets there.
“It’s planning to localize PicsArt photo editor for Asian countries by adding clip art, fonts, and stickers tailored for specific markets,” Techcrunch reports.
PicsArt is a photo-editing app, which brings together lovers of art. It’s considered to be a mix of Photoshop and Instagram.