Malaysia and US-based animation workflow platform LottieFiles on Wednesday announced a $9-million Series A investment led by Microsoft’s venture fund, M12, with participation from existing investor 500 Startups.
Other investors in the company include US software company Adobe, according to a statement.
“We help designers and developers create interactive motion graphics that make their products stand out, without the traditional steep learning curve,” said LottieFiles co-founder and CEO Kshitij Minglani.
The new capital will be used to further the product roadmap, expand infrastructure to support its 300% year-on-year growth, and increase its global user base, the company said.
LottieFiles.com claims to have surpassed one million users from over 65,000+ companies globally, including Google, TikTok, Disney, Uber, Airbnb, and Netflix.
The majority of today’s most-downloaded apps use the Lottie format for their motion graphics due to its lightweight file size, which is over 600% smaller than traditional GIF files.
“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,” said M12 partner Abhi Kumar.
LottieFiles raised an undisclosed sum from 500 Startups and Adobe Fund for Design in April last year.
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. M12 has offices in San Francisco, Seattle, London, Tel Aviv, and Bengaluru.
500 Startups has invested in over 2,450 companies across 78 countries. Notable investments include Credit Karma, Canva, Talkdesk, Intercom, GitLab, Grab and Bukalapak.