Giphy just closed a $55 million series C funding round

GIPHY funding

Giphy has closed a $55 million Series C funding round, valuing the company at $300 million post-money.

The newest round of cash was led by Lightspeed Venture Partners with participation from General Catalyst Partners, RRE, Betaworks, Lerer Hippeau Ventures, CAA, and other existing Giphy investors.

Giphy launched in 2013 with the goal of becoming the largest search, discover, and share platform for the GIF format.

Users can upload and tag GIFs, which can then be searched on the company’s website and through native mobile apps.

Since launching, the company has grown to include “live GIFing” for media networks and publishers.

There is now an entire team at Giphy experts dedicated to transforming a live event into a library of searchable GIF content.

Recently the company added built-in support for platforms like Slack and Facebook Messenger.

The company has reached a $300 million valuation without yet attempting to monetize its platform.

 

Giphy’s new round of funding likely means the company is moving one quick step closer to monetization, although the firm has not announced any plans to that respect.

Written by Peter Mondrose

Peter Mondrose

Peter Mondrose is the Editor-In-Chief at BusinessPundit. He received his degree in Economics in 1998 and a second degree in Journalism in 2004. He has served as a financial adviser, market trader, and freelance journalist for the last 11 years. When he's not investigating market conditions and reporting on workplace news, he can be found traveling with his wife, dog, and laptop. He can be reached at PeterMondrose@BusinessPundit.com or (929) 265-0240.