Motion graphics platform LottieFiles has 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 said it will use the funding to further its product roadmap and 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 percent more time to focus on creativity.
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.
Founded in 2017 by Kshitij Minglani and Nattu Adnan, LottieFiles previously raised $9 million in Series A funding in January 2021, led by Microsoft Venture Fund M12, and has experienced 160 percent 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.
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.