LottieFiles Raises $37 Million Series B Funding Led by Square Peg Capital
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
SAN FRANCISCO, May 3, 2022 /PRNewswire/ — 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.
“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.
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.
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.
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