French startup PhotorumFundraising round for Series A raised $19 million. The company is known for its popular photo-editing software, which is used by small businesses and e-commerce sellers. It helps you remove background from the items you are selling so your photos look professional.
Balderton Capital is leading this round with angels representing Hugging Face, Disney+, and Facebook. Adjacent, the current investor, is also investing more money in the company.
PhotoRoom isn’t the only app that can help you remove background photos. Another popular app is PhotoRoom, which can be found in the App Store’s “Graphics & Design” category. Pixelcut. There are also other general applications such as PicsartIt also features background removal capabilities.
PhotoRoom has a particular niche: small businesses that sell items on eBay, Poshmark, and Depop. Market experts can quickly process hundreds of images and create ready to use images in just a few clicks. It can save them a lot of time, and help them sell more products.
PhotoRoom uses deep-learning to identify the elements and elements of an image. Multi-layered images are flat images that can be blurred, resized, or replaced with another background. You can also retouch the image to remove unwanted objects.
PhotoRoom provides a large collection of background templates. You can also export photos in different formats using PhotoRoom, taking into account the limitations of each platform.
It is doing well, with 40 million downloads on Android and iOS. There are 7 million monthly active users. Hundreds of thousands of users pay a subscription fee in order to unlock all features. It currently costs $9.99 per monthly or $69.99 per annum.
PhotoRoom is next planning to integrate generative AI into their app, starting with Stable Diffusion. Because the company is already profitable with its current team, you are raising money.
“So far, we’ve picked up something and erased the background. But then, users were looking for a background to bring the object back in front of a template,” co-founder and CEO Matthew Ruff told me.
PhotoRoom can generate a product marketing picture based on your object by using a text prompt. Initial beta users will have access to the feature. It will be gradually rolled out to all users.
“With a strong focus on user needs, Matthew and Elliott create a product that stands out from the rest. The importance of online photography is immense, and PhotoRoom has both traction and ambition to become a market leader,” said Bernard Lyawood, partner of Balderton Capital, in a statement.
Credits for the image:Photorum
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