Giphy, the Google of GIFs, has closed a $55 million Series C funding round at a valuation of $300 million post-money.
The round was led by Lightspeed Venture Partners with participation from General Catalyst Partners, RRE, Betaworks, Lerer Hippeau Ventures, CAA and other existing Giphy investors.
Giphy launched out of betaworks back in 2013 with one goal: to let the world search, discover, and share GIFs. The company acts a lot like Google, letting users upload and tag GIFs to make them searchable on the web and through Giphy’s native mobile apps.
But Giphy has expanded quite a bit since launch, offering ‘live GIFing” tools for media networks and publishers to use GIFs in their own content. These tools let media folks turn live events (like the Grammys and the Emmys) into instantly shareable GIFs, with an entire team at Giphy dedicated to transforming a live event into a library of searchable GIF content.
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