AI-powered photo editor Photoroom has received a significant injection of new funding to the tune of $43 million.
The Series B funding room is backstopped by a previous investor, Balderton Capital, and new funding from Algaé and YCombinator, bringing the app’s total funding to $64 million since it was founded in 2019.
“Photoroom shattered all expectations,” says Cameron Curtis, EVP of Worldwide Digital Marketing at Warner Bros. “Its unparalleled ease of use became the catalyst for propelling the Barbie Selfie Generator into the digital spotlight, and captivating audiences worldwide.”
Photoroom touts itself as one of the “few companies in the world” that has trained its AI model from scratch and plans to use its latest funding influx to accelerate its generative AI technology. Specifically, the company will invest in more GPUs, secure more images from leading image providers and photographers, and double the size of its team by the end of this year.
“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,” says 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.”
The new funding arrives alongside Photoroom’s first foundation model built specifically for product photography, Photoroom Instant Diffusion. This model, Photoroom ID for short, ensures that images from different sources look consistently styled like they were photographed in the same setting with similar lighting.
“The foundation model is the next step in empowering businesses to create amazing product photos without the need to be an expert at prompt engineering or photography,” says Matthieu Rouif, co-founder and CEO at Photoroom. “Our model has been trained to excel at product photography and can quickly adapt to user needs and feedback.”
The company has spent considerable resources developing a faster and more agile AI model. Its custom architecture promises to increase image generation speed by up to 40%. Photoroom is also focused on improving resolution, quality, and realism.
Part of what makes Photoroom an attractive candidate for investment companies is that it is building its software with commercial and enterprise users in mind. Photoroom’s suite of AI photo-editing tools includes AI Backgrounds, AI Expand, AI Images, AI Fill, Auto-rotate, AI Upscale, and an image editing API. All these features are designed to make it easier to create professional-looking product images, which are vital for successful e-commerce sites.
“We were immediately drawn to Photoroom’s disruptive approach to photo-editing for businesses,” adds Kristina Chvilova, Partner at Aglaé. “Their dedication to craftsmanship and their ability to attract top-tier brands like Bulgari and Warner Bros. to their platform underscored their potential for long-term success. We believe Photoroom’s innovative technology will continue to revolutionize the way businesses engage with visual content, and we are proud to be a part of their journey.”
Image credits: Photoroom