Business, Investments

Oakland based Digital tools maker raises USD 40 million

Visual Supply Co. (VSCO) has raised USD 40 million in Series A round of investment led by Accel Partners with participation from Goldcrest Investments Group. This funding will be used to grow its market network and accelerate product development over international distribution infrastructure. Also, it will help increasing the VSCO’s Artist Initiative scholarship fund to $1 million.

Launched in 2011, the startup is a venture of CEO Joel Flory and chief executive officer Greg Lutze. It also has operations in New York city and Colorado Springs. It is known for its ‘cam app’, launched last year. The app’s popularity extends to around 13 countries worldwide and has approximately 500K downloads till date with a 12+ ranking at iTunes.

Also, it offers services such as VSCO Film and VSCO Grid. VSCO Grid is fully integrated with VSCO CAM, a free photo publishing platform and is a way for edit, shoot and share the photographs. VSCO Film, on the other hand, offers presets and camera profiles to help streamlining the workflow.

“They’ve long been the standard on desktop for beautiful photography, and are quickly becoming the go-to platform for mobile-first photographers and creatives,” said Ryan Sweeney of Accel Partners.

Since the beginning of this year, Accel Partners has disclosed around 30 deals. Out of this, the last month only comprises of deals worth USD 46.2 million. This includes LearnVest (Series D, USD 28M)  Edupristine (Series A, USD 1.50M), Spring (Series A, USD 11.70M) and Sookasa (Series A, USD 5M).

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