PhotoShelter Secures $8 Million in Funding From Level Structured Capital
NEW YORK--(BUSINESS WIRE)--Mar 27, 2019--PhotoShelter, the leading digital asset management platform for visual storytellers, today announced it has received funding from Level Structured Capital, an affiliated fund of Level Equity, a New York private investment firm focused on providing capital to software companies. This funding provides PhotoShelter with access to a total of $8 million in capital. The investment will help the company drive product innovation across its cloud-based visual media platforms, PhotoShelter and Libris, accelerate staff expansion and finance a new company headquarters this year.
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PhotoShelter announces $8 million in funding from Level Structured Capital. (Pictured: PhotoShelter CEO Andrew Fingerman in the company's soon-to-be new headquarters in New York City's Financial District)
“We have grown tremendously in our fourteen years as a company and are honored to work with Level Structured Capital. The team at Level understands our vision and wants to help us deliver breakthrough content workflow solutions for creative teams, marketers and independent visual storytellers,” said Andrew Fingerman, CEO of PhotoShelter. He added, “This is a crucial moment for the company as we look to build our talented team, relocate our headquarters and expand our offerings in the market. We are excited to get to work.”
PhotoShelter has recently expanded its executive team with senior hires in finance, marketing, customer success, talent management and human resources. The funding announcement builds on a successful year for PhotoShelter, which has seen significant growth of Libris, its visual media solution for brands. Libris helps brands centralize, organize, and distribute their visual assets at scale and in real time. Launched in 2015, Libris continues to add to its roster of 1,000+ clients across key verticals including the consumer, retail, education, sports, healthcare, technology and energy sectors.
“Right now we’re witnessing an outright explosion in the volume of visual content employed by brands to engage their audiences,” said Barry Osherow, Managing Director at Level Structured Capital. “The team at PhotoShelter has built standout expertise in managing visual content at a massive scale, initially serving the community of independent creators and now they’ve built on that heritage to offer a very powerful solution to brands. We’re thrilled to be the financing partner behind the continued expansion of their platform.”
PhotoShelter will dedicate a significant portion of its capital towards product innovation in 2019. Currently in the works are advanced content collaboration tools, deeper mobile functionality to help clients operate in real time and new API capabilities to support seamless integrations with leading marketing technologies. The company is also planning for improved UX for both the PhotoShelter and Libris platforms, in addition to building upon industry-leading speed and performance advantages for users.
PhotoShelter continues to be recognized for its business growth and commitment to company culture. The company has been listed to Inc. Magazine’s 5,000 Fastest Growing Companies in the U.S., Internet Week awarded the company for having the "Happiest Employees" in New York City and named PhotoShelter among the 30 Best Places to Work in NYC Tech. Earlier this year, PhotoShelter announced plans to relocate its New York City headquarters from Union Square to a new 23,000 square foot office in Manhattan’s Financial District to support its growing team.
In 2005, PhotoShelter pioneered the first cloud-based product for professional photographers to showcase, archive and sell their work. It offers beautiful websites, secure storage, plus over 100 features to help photographers take their businesses to the next level. PhotoShelter’s product for marketers and creative teams inside brands, Libris, is the simplest and fastest digital asset management platform built for visual media. The cutting-edge software helps over 1,000 top clients easily organize, collaborate and share their photos and videos. Today, Libris is used by leading brands across industries, including The Associated Press, New York Jets, Los Angeles Chargers, Philadelphia Eagles, Purdue University, National Aquarium, Chick-fil-A, Special Olympics Inc., Pandora, PBS, Politico, Nathan’s Famous and Wendy’s.
PhotoShelter’s mission is to empower effortless visual storytelling. We offer a unified platform of technology, tools, and insights that help more than 80,000 professional photographers and over 1,000 brands manage their visual media every day. PhotoShelter accomplishes this through two solutions: PhotoShelter for photographers and Libris for brands.
About Level Structured Capital and Level Equity:
Level Structured Capital is an affiliate of Level Equity, a New York based private investment firm that invests in and acquires outstanding growth businesses. The firm has broad capabilities to pursue minority and majority investments, full acquisitions, and structured equity and credit solutions in support of a variety of transaction types and desired outcomes. Level Equity has raised $1.7 billion across its equity and structured capital business lines. To learn more, visit www.levelequity.com.
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CONTACT: Deborah Block
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: TECHNOLOGY AUDIO/VIDEO PHOTOGRAPHY SMALL BUSINESS PROFESSIONAL SERVICES OTHER PROFESSIONAL SERVICES COMMUNICATIONS ADVERTISING MARKETING
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PUB: 03/27/2019 09:00 AM/DISC: 03/27/2019 09:01 AM