Enlight and Facetune Creator Lightricks Raises $60 Million
The mobile app market is on the upswing, according to research firms like App Annie. Global downloads grew an estimated 15 percent and consumer spend 20 percent year-over-year in Q2 2018. And smartphone users spent more money on apps — $18.5 billion — than in any quarter in history. One of the most popular categories was video players and editors, which helped drive installs on Android to 20 billion in Q2. And five-year-old Jerusalem startup Lightricks — the folks behind Facetune and Enlight — benefited firsthand.
Lightricks today announced that it has secured $60 million in a funding round led by Insight Venture Partners with participation from Claltech, bringing its total raise to date to $70 million. It said that its apps have racked up more than 100 million downloads globally and that the most recent addition to its lineup — Enlight Pixaloop, which launched in September — attracted 6 million users and 200,000 subscribers in just two months.