GIPHY, the company best known for all those cool GIFs posted all over the internet, just closed a Series C funding round in the amount of $55 million placing the post-money valuation at a cool $300 million.
The round was led by Lightspeed Venture Partners, General Catalyst Partners, RRE, Betaworks, Lerer Hippeau Ventures, CAA and other existing Giphy investors.
The company, which was launched out of betaworks in 2013, lets users upload and tag GIFs to make them searchable on the web and through Giphy’s native mobile apps. The company was happy to announce that it has grown over 500% during the last year which is quite a feat.
“In just over a year, we’ve grown over 500%. We’ve partnered with leading social networks, messengers, and apps to let the world talk in GIFs. We’ve partnered with the leading studios in Hollywood, TV networks, music labels, production companies, sports leagues and thousands of other content partners to create GIFs. Our GIF making tools are used by some of the biggest publishers on the internet and the most creative people in the world. And, our apps help everyone find, share, discover, and create the perfect GIF.”
“This year, we’re bringing GIFs to everyone. That’s why we’re proud to announce a raise of $55 million in Series C funding, led by Lightspeed Venture Partners with participation from General Catalyst Partners, RRE, Betaworks, Lerer Hippeau Ventures, CAA and other existing investors.”
In the spring of 2014, GIPHY raised $100,000 in preferred equity, using a Reg D 506(c) offer which was immediately funded. Pre-money valuation was set at $13 million with $2.4 million previously committed.
In January of 2015, GIPHY raised $17 million in a Series B funding round and a post-money valuation of $80 million. Once again, Quire / Alphaworks offered a slice to the (accredited) masses. As we quickly learned, investors blitzed Quire to fund the 2-year-old company.
Today early investors are probably rather happy with their decision to shoulder the risk and purchase equity in the GIF making firm;
TechCrunch notes the startup is not yet monetizing its audience yet, but that appears to be just around the corner.
As for Quire, they expect to enter the Title III, Reg CF space – so keep an eye on that platform. Especially if the GIPHY listing foreshadows future offers.