KUALA LUMPUR, Malaysia & SAN FRANCISCO--(BUSINESS WIRE)--LottieFiles, the leading community platform for designers and developers who create motion graphics using the new Lottie file format, announced a Series A investment of $9 million, led by M12, Microsoft's Venture Fund, with participation from existing investor 500 Startups. Other investors in the company include Adobe.
LottieFiles.com has quickly surpassed one million users from over 65,000+ companies globally, including Google, TikTok, Disney, Uber, Airbnb, and Netflix, making it the most-visited destination for Lottie users worldwide.
The majority of today’s most-downloaded apps now use the Lottie format for their motion graphics due to its lightweight file size, which is over 600% smaller than traditional GIF files. Lottie’s innovative cross-platform capabilities save designers and developers weeks of work by freeing them from having to code motion graphics for every different platform individually. Lottie animations can even be edited after shipping, further contributing to the file format’s growing popularity.
LottieFiles platform and its workflow and collaboration tools makes shipping a Lottie motion graphic blazingly fast.
"We help designers and developers create interactive motion graphics that make their products stand out, without the traditional steep learning curve. User of motion helps increase engagement by grabbing and holding user attention, which is now more important than ever with unprecedented demand for new engaging online experiences," said LottieFiles Co-founder & CEO Kshitij Minglani.
"By listening to the Lottie community, we’ve created a unique set of editing, workflow and collaboration tools that seamlessly integrate with popular design software and developer environments such as Adobe After Effects, Figma, VS Code, and others. To make things easier for non-motion designers, users can take advantage of tons of free content available on our platform to get started," added Nattu Adnan, Co-founder & CTO.
"The way LottieFiles has created a compelling offering by bringing delight to apps and websites is a real breakthrough. Their platform not only disrupts the existing design industry, but also empowers an entirely new set of users by unlocking many new opportunities to use motion. Lottie is the new standard for delivering motion and LottieFiles leads the field," said Abhi Kumar, Partner at M12 that led the investment.
On average, a new lottie file is uploaded to the platform every 15 seconds. These assets range from simple animated icons to animated product onboarding and walkthroughs, system animations on smartwatches, interactive infographics for online publications, and countless other use cases across devices.
The new capital will be used to further the product roadmap, expand infrastructure to support its 300% YoY growth, and increase its global user base.
“As early backers of LottieFiles, we saw how Kshitij and Nattu built a devoted following of designers and developers worldwide. LottieFiles embodies the vision around improving productivity with community and tools, and by doing so, expanding the market to new creators,” said Tony Wang, Managing Partner at 500 Startups.
M12, Microsoft's venture fund, invests in enterprise software companies primarily in the Series A through C funding stages with a focus on applied AI, business applications, infrastructure, security, and vanguard technologies. As part of its value-add to portfolio companies, M12 offers unique access to strategic go-to-market resources and relationships globally. M12 has offices in San Francisco, Seattle, London, Tel Aviv, and Bengaluru.
About 500 Startups
500 Startups is one of the most active global early stage venture capital firms, having invested in over 2,450 companies across 78 countries. Notable investments include Credit Karma, Canva, Talkdesk, Intercom, GitLab, Grab and Bukalapak. 500 Startups also helps develop innovation ecosystems by supporting startups and investors through accelerator and educational programs, and through partnerships with corporations and governments around the world.