Motion graphics platform LottieFiles raises US$37m Series B round

LOTTIEFILES has raised a US$37 million Series B round led by venture capital firm, Square Peg Capital, with participation from investors such as XYZ Venture Capital and existing investors 500 Statrups and Microsoft’s venture fund, M12.

The motion graphics platform which helps with animation workflow, provides a file format for motion graphics across platforms like iOS and Android without having to code for a specific platform. LottieFiles also has integrations with design tools like Adobe After Effects, Figma, Wordpress among others.

The funds will be used to further LottieFiles’ product roadmap, and expand its operations fro an expanding user base. There are plans to launch a new design workflow and collaboration solution in Summer 2022 as well.

Currently the motion graphics platform has users from 135,000 companies globally, including Google, TIkTok, Disney, Uber, AirBnB and Netflix. Previously, LottieFiles raised US$9 million in Series A funding in Jan 2021, and has experienced a 160 per cent growth in net new registered users since. The funding then was used to acquire a digital asset library, expand its operations to over 100 employees worldwide and increase adoption.

“The LottieFiles team spent the last three years studying and perfecting a blueprint that now works for design and developer teams from more than 135,000 companies. We are excited to bring LottieFiles into offering this year and grow our user base even more," said Kshitij Minglani, chief executive officer and co-founder, LottieFiles.