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App developing company Lightricks secures $135M in series C funding round

Israeli software company Lightricks Ltd. secured $135 million in a series C funding round led by Goldman Sachs Private Capital Investing Group.

Additional investors, including Insight Venture Management LLC and ClalTech, also participated in the transaction, which values Lightricks at $1 billion, according to a July 31 news release. Following the transaction, Kirk Lepke, vice president at Goldman Sachs Private Capital Investing, will join Lightricks' board.

Lightricks will use the proceeds to develop artificial intelligence-based content creation tools, make acquisitions, and expand its offices globally. Lightricks creates photo and video editing apps.