Craig PornoreyLottieFiles is an innovate platform for animations. It was launched in 2018 with a mission to connect animators and developers, enable the production of quality animations, and enable the visualization of complex animation sequences. Since its inception, LottieFiles has seen tremendous growth and has recently raised $37M in Series B funding to bring their vision to life.
In this article we will explore the history of LottieFiles’ growth and look at the factors that have led to its success. We will also discuss how LottieFiles is continuing to grow and evolve as a platform.
Company Overview
LottieFiles is a web-based interactive platform that enables design teams to upload, share, store, and showcase animations created in After Effects. The platform was launched in 2019 and since then, it has experienced tremendous growth.
Recently, it has raised $37M in Series B funding to continue its growth, and this is a testament of their success.
Let’s take a closer look at LottieFiles and examine how it has grown since its launch.
LottieFiles Raises $37M in Series B Funding
LottieFiles is a premier animation library for websites, mobile apps and product interfaces, where designers and developers can purchase, download and use animations for their projects from a vast collection of original soundtracks and artworks. Founded in 2018, LottieFiles has grown significantly since then.
The company offers an extensive library of animations created by experienced animators from all over the world. All the animation pieces are available for purchase with pay-as-you-go pricing. Besides an extensive selection of animations, LottieFiles also provides users with access to user guides, tutorials and support services to help them get quick results on their projects.
In 2020, LottieFiles announced that they had raised $37M in Series B funding led by Point 72 Ventures with participation from existing investors including General Catalyst and SignalFire Ventures. This recent round of funding will be put towards expanding automation tools development capabilities, as well as growing the design catalog towards 1 million active users across 50 countries worldwide. Currently, LottieFiles boasts having over 600K registered users in more than 40 countries around the world making use of its animation library including leading companies like Microsoft, Adobe, Twitter and more.
With the additional funding coming their way and their ever increasing presence in various industries around the world, it’s highly likely we’ll be seeing a lot more from this animation giant in the near future!
What is its mission?
LottieFiles’ mission is to create a platform that unlocks the power of animation to bring engaging, interactive experiences wherever content lives. The company’s platform enables world-class, creative expression and storytelling while allowing designers, developers and brands to create beautiful visual experiences with Lottie animation across any device or platform.
Founded in 2018, LottieFiles set out to revolutionize the way artists, developers and companies use motion design for better user experiences. With the goal of helping people express themselves in digital space more quickly, easily and cost-effectively, LottieFiles continues on its mission of transforming how businesses create engaging digital experiences that delight their customers.
LottieFiles recently completed its Series B round of funding with $37M raised from some top names including Accel, DFJ Growth and Greenspring Associates in addition to prior investors BDMI and Atomico. This additional support will enable the company to continue on its mission with an expansive product roadmap and extensive customer support system as well as bringing on personnel talent around the world.
What services does it provide?
LottieFiles is a comprehensive online library of ready-to-use animations for marketing and creative projects. The expanding library consists of professionally designed animation files that can be easily and quickly integrated into mobile applications, websites, HTML5 ads and more. LottieFiles also offers a web-based animation editor that gives marketers and engineers the ability to customize animations for their specific project needs, and create completely new pieces for their projects.
Moreover, the company provides an enterprise solution which enables larger companies to transition their creatives onto the platform. This service offers advanced analytics tailored to client’s needs, full source files of all Lottie’s animations as well as expanded collaboration options that suit enterprise users best.
In addition, LottieFiles has a growing community of developers who are constantly pushing the technology beyond its boundaries while at the same time ensuring that the platform remains compatible with numerous different systems. The company has identified three key areas on which it is focusing its efforts when developing new features — ease of use by accessible standards, speed optimisation by concentrating on creating lightweight yet powerful animations and scalability through expanding practicability with additional backend development services.
By continuously building on its core offerings, LottieFiles allows businesses to create unique animatiations in a short amount of time — one key factor in why it raised $37 million in Series B funding from notable venture capital firms such as Kleiner Perkins Caufield & Byers (KPCB). As such, companies can now take advantage of customised services which help them scale faster without sacrificing quality or straining budgets.
Growth Since Launch
LottieFiles launched in 2017 with the mission of making complex animations easier to integrate into any mobile, web or video project. Since then, its growth has been meteoric.
It most recently raised $37 million in Series B funding, which is a significant milestone in its development.
This article will cover the growth LottieFiles has experienced since its launch, as well as the challenges and lessons learned during the process.
Series A Funding
In June 2017, LottieFiles raised $6 million in Series A funding led by Accel, a global venture capital firm. This round of funding was notable, as it marked the first significant round of external funding for the company. The additional capital allowed LottieFiles to expand its engineering team, hire more product managers, and launch the product commercially. The infusion of external capital also enabled LottieFiles to create a strong foundation to understand target customer needs and better position itself to capitalize on opportunities in the market.
Since its origin in 2017, the company has continued to raise substantial amounts of capital – Series A and Series B fundraising rounds have helped grow LottieFiles’ community reach and expand their offering into new products with deeper integrations into select platforms. In April 2019, they raised an additional $37 M in Series B funding which brought their total funding up to over $55M in only two years since launch. This continued trajectory further solidifies the strong presence that this young player has had on the Animation industry scene from day one and further bolsters the quality and reliability of their work for customers around the world.
Series B Funding
In April 2021, LottieFiles raised $37M in Series B funding. This round of funding was led by Index Ventures and other investors included Saiya, Eventbrite co-founder Kevin Hartz, Jeff Wilke – CEO of Worldwide Consumer of Amazon, MarketX founders Ben Narasin and Jared Hecht and previous investor Sequoia. The new investment will provide resources to enable the company to continue with its mission to become the platform of choice for Cloud Animation Design.
The funds will be used to continue to develop Lottie’s features and products as well as expand further internationally into more regions. The launch clients which have embraced LottieFiles have driven significant growth over this last year, establishing it has the go-to platform for animation design in the Cloud.
The new capital gives validation to what already exists and also allows us to take a more ambitious approach with our product roadmap – both in innovation and exploring potential market opportunities around animation design and production automation. The money thus enables us to explore new areas quickly without fear of running out of runway too soon or sacrificing quality and progress of our current product cycles.
Expansion of Services
Since launching, LottieFiles has quickly expanded its services to become a hub of web and mobile tools for simplifying the customer experience. The company’s main mission is to enable developers and designers to incorporate sophisticated animations into their product, with minimal effort and expense. With the help of artificial intelligence, software engineers are able to easily operationalize complex animations like zoom and pan, quickly building eye-catching interfaces.
In order to meet the demand for businesses seeking more powerful animation solutions, LottieFiles raised $37M in Series B funding that has fueled further development of their platform. This includes increased support for build automation with cloud services like AWS Lambda, improved API functionality for easing integration with customer websites and apps, as well as support for advanced motion tracking with motion sensors using machine learning. As part of the raised funds, LottieFiles also acquired two startups which specialized in animation technology – Pixelaxial Inc and Glitter AI – enhancing the company’s ability to leverage 3D graphics expertise in software development tasks.
Through these expansions of services offered by LottieFiles since its launch, they have been able to provide customers a comprehensive animation suite that can bring interfaces alive.
Growth in User Base
Since its launch in 2018, LottieFiles has seen remarkable growth in its user base and it recently raised $37M in Series B funding. It now counts over 1.5M monthly active users across 163 countries, representing 5X increase within one year.
Using real-time animation technology, developers are now able to easily integrate vector-based animations with the help of just one line of code. Compared to traditional GIFs and videos, this ensures better mobile performance and a lower file size. It is trusted by a plethora of big-name applications, such as Starbucks, Instagram and Pinterest – just to name a few!
LottieFiles’ user base continues to grow at an impressive rate because games, AR/VR platforms, websites, mobile apps or even presentations benefit from real-time animation technology which is becoming the industry standard for interactive design projects. By raising additional capital from investors this money will be invested into product development and marketing efforts aimed at further growing the LottieFiles user base even more.
Impact of Series B Funding
Following the LottieFiles Raises $37M in Series B Funding announcement, the company has seen an incredible amount of growth in its customer base and overall usage.
In this article, we will dive into the impact that this funding has had on LottieFiles’ mission of creating customer-friendly tools to make mobile design better. We will also look at how this growth has impacted the company’s products and services.
Increased Investment in Research & Development
Since its Series B funding round of $37 million in 2020, LottieFiles has seen a dramatic increase in its investment in research & development (R&D). With the new media company focused on providing high-quality animated graphics and images for mobile apps, websites, and videos, it has been able to expand its portfolio of offerings beyond static visuals.
LottieFiles tapped the latest technologies such as Machine Learning (ML) and Artificial Intelligence (AI) to create more sophisticated animations that can be used to enrich customer experiences. R&D expenditure was increased significantly so that LOTTIE can be used as an effective tool that enables businesses to introduce animation initiatives into their workflow quickly and cost-effectively.
The start-up also made decisions towards expanding their team of experts. The team consists of seasoned professionals from the animation, technology, business and marketing backgrounds.They ensure that users have access to the best and most intuitive tools for their projects– making animations easier for companies to produce for sales material or marketing campaigns.
This increased investment in R&D has positive implications for the development of a longer term strategy for LottieFiles with an efficient process for bringing new products to market faster than ever before to improve customer experiences.
Expansion of Team & Resources
Since its launch in 2017, LottieFiles has seen impressive growth due to a successful Series B Funding round in January 2020. LottieFiles raised $37 million, thanks to an investment led by Matrix Partners with participation from Y Combinator and several other venture capital firms and angel investors. This influx of funding allowed the animation platform to expand its team and resources.
Following the investment, LottieFiles grew from about 10 employees to more than 35 people with offices both in India and California. They also invested significantly in new features for the platform, including support for video animation, interactive buttons, and multiple layer effects. With their larger team of engineers, designers and product managers, they have built support for 3D motion design into the platform as well as customizable export animations that can be tailored to specific application use cases on iOS and Android devices.
The combination of these developments has enabled faster iteration cycles at all stages of design creation while also improving on existing tools like Adobe After Effects by integrating more native web technologies such as CSS Animations into their platform. Additionally, they added a private marketplace where customers can buy pre-made animations made by other users around the globe to speed up their workflow even further.
With the Series B Funding in hand, LottieFiles is now poised to become one of the leading animation platforms on both desktop and mobile devices alike – showing the potential impact that investments can have when used properly.
Expansion of Platforms & Integrations
The significant Series B funding that LottieFiles raised ushered in an extensive expansion of the platform and its integrations. After the investment, LottieFiles was able to expand its offerings with new tools and integrations that made it easier for developers to create animations and incorporate them into their projects.
One of the benefits of this new funding was the ability to add multiple platforms, including React Native Library and macOS, Android, Windows SDKs. Additionally, the platform expanded its support for technologies such as Unity3D, Apple SceneKit 3D engine and Unreal Engine 4. This enhanced level of integration enabled developers to utilize animation across more platforms using cutting-edge technology.
Integrating into existing development frameworks made it simpler for developers to create animations for their applications without having to use multiple tools or systems which could lead to confusion and inefficiency. The combination of APIs, Plugin Libraries and SDKs that LottieFiles has developed led to a faster development cycle than ever before with quality results. As a result, developers were able to push projects from concept creation faster than ever before.
