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Hovhannes Avoyan, PicsArt founder and CEO, which raised $20 million Wednesday.
Photo editing app PicsArt raised $20 million in funding Wednesday to expand operations in Asia.
DCM Ventures and Siguler Guff & Company participated in the round. The company has raised $45 million to date from backers such as Sequoia Capital and Insight Venture Partners.
Hovhannes Avoyan, PicsArt founder and CEO, which raised $20 million Wednesday.
Hovhannes Avoyan founded the San Francisco-based company in 2011 to build a community around a set of mobile photo editing, collage and drawing tools. Capitalizing on consumers' shift to smartphones, the company has built an online community that now has almost 75 million monthly active users.
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Source: Photo editing app PicsArt will use $20M funding round for Asia expansion
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