LottieFiles Raises $37 Million Series B Funding Led by Square Peg Capital
PR95792
SAN FRANCISCO, May 4, 2022 /PRNewswire=KYODO JBN/ --
-- World's most visited destination for Lottie motion will use funding
to expand its user base and design new products to make motion
design accessible to anyone
LottieFiles (
), the leading motion graphics platform for designers and developers, today
announced a $37 million Series B funding round, led by Square Peg Capital (
), with additional participation from XYZ Venture Capital, GreatPoint Ventures,
and existing investors, 500 Startups and M12, Microsoft's Venture Fund.
LottieFiles will use the funding to further its product roadmap, expand its
operations to cater to the expanding user base. The company plans to launch a
new design workflow and collaboration solution to its global user base in
summer 2022, which will enable designers to save more than 15 hours per asset
shipped and give users 80% more time to focus on creativity. Using Lottie,
motion designers and developers can save weeks of effort by not having to code
motion graphics individually for each platform. View a short video about
LottieFiles here (
).
Video - https://www.youtube.com/watch?v=HNxmxEtDL1E
Logo - https://mma.prnewswire.com/media/1809683/LottieFiles_Logo.jpg
"Our mission is to democratize motion design and graphics animation and make it
accessible to all," said LottieFiles' CEO and co-founder, Kshitij Minglani.
"LottieFiles completely transforms the creation and design workflow process,
which empowers every designer and their teams to leverage the power of motion
to create delightful user experiences. The LottieFiles team spent the last
three years studying and perfecting a blueprint that now works for design and
developer teams from more than 135,000 companies. We are excited to bring
LottieFiles into offering this year and grow our user base even more."
The majority of today's most-downloaded apps, popular websites and platforms
now use the open-source vector-based file format, Lottie (
). Lottie is a JSON animation file format that enables designers to ship
animations on any platform as easily as shipping static assets. Lotties are
also small files that work on any device and can scale up or down without
pixelation — allowing designers to create app onboarding and in-app animations,
reactions, infographics, social media assets, animated icons, stickers, gaming
assets and more. Lottie animation adoption is growing. Key features including
cross platform application and functionality, being lightweight and
interactive, and the ability to play at 120 frames a second, make Lottie
animations a perfect replacement for any conventional format, i.e., GIF or PNG
sequences.
The LottieFiles.com website currently counts users from more than 135,000
companies globally, including animation designers and motion designers from
Google, TikTok, Disney, Uber, Airbnb and Netflix. Every nine seconds a new
animation goes through the LottieFiles workflow and tooling, making it the
most-visited destination for Lottie motion worldwide. LottieFiles also has
integrations with the most popular design tools, such as Adobe XD, Adobe After
Effects, Figma, Webflow, Wordpress, and more.
LottieFiles previously raised $9 million in Series A funding in January 2021,
led by Microsoft Venture Fund M12, and has experienced 160% growth in net new
registered users since that time. The Series A financing enabled the company to
acquire a design asset library, expand its operations and team to more than 100
employees worldwide, and create even wider adoption of Lottie with an expanded
user base.
"We are excited to work with LottieFiles and be a part of the journey as they
build best-in-class standards for the global animation industry," said Piruze
Sabuncu, Partner at Square Peg Capital. "LottieFiles plays into the theme that
the future of design is in motion as digital engagement increasingly revolves
around interactivity. We have been impressed with the fast-growing LottieFiles
community all over the world from the biggest tech companies to individual
designers."
Access the LottieFiles press kit here (
) or learn more at https://www.lottiefiles.com.
About LottieFiles
Animation workflow platform, LottieFiles is leading a revolution in motion
through a powerful new format, Lottie. The company serves a large community
from everyday storytellers to motion and graphic designers, animators and
developers working with the JSON-based, scalable animation that is 600% smaller
in size compared to GIF. LottieFiles aims to streamline the animation workflow
and create a new realm of possibilities with Lottie animations across media,
marketing, platforms and gaming for its users worldwide. LottieFiles has the
world's largest library of animations with more than 50,000 free and premium
Lottie animations, and currently serves over 135,000 companies all around the
world.
Based in San Francisco with additional offices in Seoul and Kuala Lumpur,
LottieFiles is a privately held company backed by Square Peg Capital, XYZ
Venture Capital, GreatPoint Ventures, 500 Startups and M12, Microsoft's Venture
Fund. Follow us on Instagram (
), YouTube (
), Twitter (
) and LinkedIn (
) or learn more at LottieFiles.com (
).
About Square Peg Capital
Square Peg is a global investment firm on a mission to empower exceptional
founders. With teams in Singapore, Israel and Australia, Square Peg invests in
emerging technology companies across the internet economy. Square Peg has over
US $1 billion in assets under management across multiple funds and has invested
in category-defining companies including Fiverr, Canva, PropertyGuru and
Airwallex. Since 2013, Square Peg has invested over US $200M in Southeast Asia
in companies including Pluang, Stashaway, DoctorAnywhere and Neuron Mobility.
In 2021, Square Peg expanded into global listed equities, with the launch of
the Global Tech Fund. Learn more at https://www.squarepegcap.com.
###
Source - LottieFiles
Media Contacts: Mindy M. Hull and Frances Lee, Mercury Global Partners for
LottieFiles, +1 415 889 9977 or +1 510 427 9098, lottiefiles@wearemgp.com;
Rajiv Menon, Sling & Stone PR for Square Peg Capital, +65 8186 3494,
rajivmenon@slingstone.com
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