PhotoRoom, a Paris, France-based photo editing software that removes background automatically and creates studio-quality images in seconds, announced that it raised $19 million in Series A funding, bringing its total raised to $21 million.
The round was led by Balderton Capital, with participation from Angels from Facebook, Hugging Face, and Disney+. Adjacent, who led the seed round, is also participating.
The funds will be used to further develop PhotoRoom's existing software, improve generative AI features, and continue to hire the best talent in Europe.
PhotoRoom’s mission is to become the number-one photo editing platform in the world by democratizing access to studio-quality photography and collaboration tools.
“We live in an increasingly visual world, and professional photo editing tools should no longer be reserved to big corporations like Nike or Louis Vuitton. High-quality visuals to enhance your small business are extremely powerful and PhotoRoom gives access to this while removing the heavy burden of planning and editing such images. In the future most product photography will be done entirely through software, PhotoRoom leading the way, allowing for more creativity and accessibility” said PhotoRoom CEO and co-founder Matthieu Rouif. “With PhotoRoom we’re democratizing access to tools that can transform how entrepreneurs and creators produce images. You’re now 10x faster, 10x cheaper, and 10x better than those big corporations. Working with Balderton Capital, we know we can bring these essential tools to more people, sellers, entrepreneurs, and marketplaces worldwide.”
By leveraging deep learning to translate pixels into objects, PhotoRoom’s advanced AI allows users to edit images in seconds. They can remove, replace or blur backgrounds. The software can be used to delete unwanted features with a Magic Retouch tool.
Company: PhotoRoom, Inc
Raised: $19.0M
Round: Series A
Funding Month: November 2022
Lead Investors: Balderton Capital
Additional Investors: Adjacent
Company Website: https://www.photoroom.com/
Software Category: Photo Editing Software
About the Company: Founded in late 2019 by Matthieu Rouif and Eliot Andres, PhotoRoom provides photo editing software powerful enough to create outstanding images yet simple enough to be used without any training. Its globally-renowned platform leverages deep learning to translate pixels into objects, drastically simplifying non-creative tasks such as removing backgrounds from images. PhotoRoom’s AI processes more than 3 million high-quality, and highly accurate images a day from a growing global user base and the app is currently available in 28 languages. PhotoRoom is on a mission to enable entrepreneurs, creators, and small businesses to compose images that stand out and gain a competitive advantage in an increasingly visual world.
Source: https://photoroom.notion.site/PhotoRoom-raises-19-million-to-double-down-on-its-AI-photo-studio-already-powering-millions-of-rese-71ec6064667645c98f8b183a4d56c282