Photoroom, the AI-based photo editing app based in Paris, has recently closed its latest funding round with $43 million at a $500 million valuation. Co-founded by Matthieu Rouif and CTO Eliot Andres, Photoroom targets both online business users and casual users, experiencing significant growth in both segments.
Initially reported in January, the funding round was expected to exceed $50 million but finalized at a slightly lower amount. Despite facing competition from other players like Picsart and Pixelcut, Photoroom processes 5 billion images annually, with over 150 million app downloads and availability through an API and web interface.
Leading the recent funding round were Balderton Capital and new backer Aglaé, with previous backers including YCombinator, Kima Ventures, and FJ Labs. The total funding raised by Photoroom, established four years ago, now amounts to $64 million.
With plans to expand its team and invest in research and development, Photoroom aims to double its current workforce of 50 employees by the end of the year. The company’s focus on training its own AI models from scratch requires investments in computational power and image licensing, driving the need for technical talent to enhance model efficiency.
CEO Rouif emphasized the company’s commitment to empowering businesses with AI-driven product photography solutions, highlighting its custom architecture that accelerates image generation by up to 40% compared to other platforms. Additionally, Photoroom has introduced new features such as product photography tools, AI-generated backgrounds, scene expansions, and automated bulk image processing.
Exciting developments coincide with the funding, including Photoroom’s launch of a product photography tool called Photoroom Instant Diffusion. This tool aims to maintain consistent styling for product images from various sources, resembling professional studio production. The company’s dedication to innovation has positioned it as a key player in the evolving AI landscape.
Stay tuned for updates as we attempt to engage with Rouif and investors for further insights into Photoroom’s growth trajectory and strategic vision.
“Balderton has witnessed Photoroom’s remarkable journey from its inception, and we are continually impressed by their ability to lead and execute on their user-centric vision,” said Bernard Liautaud, Managing Partner at Balderton. “Photoroom’s generative AI capabilities are unparalleled, and we have no doubt that they will continue to lead the way in this rapidly evolving landscape.”
