Yahoo Finance LottieFiles raises $37M Series B to make the animation format even more ubiquitous
Lottie animations are everywhere. The JSON-based file format, first introduced as an open source library by Airbnb engineers, can now be seen in the top 500 iOS and Android apps, said LottieFiles co-founder Kshitij Minglani. What LottieFiles does is streamline the process of turning animations made in software like Adobe After Effects into Lotties so they can be placed in apps.
LottieFiles is now used by animation and motion designers at 150,000 companies, including Google, TikTok, Disney, Uber, Airbnb and Netflix. The startup announced today that it has raised $37 million in Series B funding led by Square Peg Capital, with participation from XYZ Venture Capital, GreatPoint Ventures and returning investors 500 Global and Microsoft Venture Fund, M12.
LottieFiles plans to use the funding to expand it product roadmap, hire for its engineering and R&D teams and develop a new workflow that will make shipping Lottie animations easier so designers can focus more on animations. LottieFiles also has the world’s largest repository of free-to-use Lottie animations.
LottieFiles was founded in 2017 by Minglani and Nattu Adnan. TechCrunch last covered the company when it announced a $9 million Series A in January 2021. LottieFiles has now raised about $47 million in total. Since its Series A, LottieFiles has grown from about 1 million users to 3.1 million.
LottieFiles simplifies the workflow between creating an animation in software like Adobe After Effects, then shipping it to its final destination in an app. The startup currently has a plug-in for Adobe After Effects and other design software. Otherwise, Minglani told TechCrunch, the process is very complicated. LottieFiles allows designers to preview how their animation will look in the app and then ship it without hours of coding.
“We are democratizing motion design the way Canva democratized design,” said Minglani. “Before Canva, it was Photoshop, which needed hundreds of hours. We are doing the same thing to motion design industry.”
Correction, 5/3/22: LottieFiles' previous round was a $9 milion Series A; the original report mistakenly referred to this as a B round. The post has been updated with the correct info.