Lightricks, a Jerusalem-based company responsible for the popular Facetune app which smoothen skin, emphasize eyes, fill bald patches, reshape facial structures and brighten teeth, is preparing for an upgrade after securing $10 million in new venturing funding.
As reported by techcrunch, the CEO and company's co-founder Zeev Farbman say that the new capital will allow the firm to continue improving its Enlight and Facetune app while launching new product. Farbman likewise shared their strategy for success called the "bakery model." Farbman told techcrunch that;
"Make a bagel, sell the bagel, hire people to bake more bagels, sell those bagels, etc. Basically, we didn't follow the traditional free or freemium model that is the norm in the apps industry, and instead sold Facetune and Enlight from the get-go,"
Facetune being ranked as the second most popular paid app in the market lets users retouch photos. And the results are so remarkable that mobile user would pay for the said app. There is an estimate of 4 million users paying for the app which costs $3.99 for both Apple and Android users. The success of the company lies on their idea that smartphone cameras have turned everyone into an amateur documentarians and photographers. And for this Facetune was created, according to their CEO, he said that;
"Lightricks was built on the premise that our mobile devices are about much more than passively viewing content, and that these devices offer a unique opportunity to foster and empower creativity."
And because of this focus and success of Lightricks has been funded by Carmel Ventures. And in words posted bytechcrunch, Carmel Ventures general partner Daniel Cohen said that;
"Lightricks possesses a rare combination of proprietary core technology alongside a proven track record of creating products people want and are happy to pay for. We are constantly looking to partner with companies that have the ability to truly revolutionize a given sector, and Lightricks has the potential to reimagine people's creativity on mobile."
