designstripe raises $10M from Insight Partners and Silicon Valley Bank to build smart design tools.
Summary
The visual communication challenger launched the first version of its product, an illustration builder and customizer and plans to set the highest quality standards in web content libraries.MONTREAL, June 23, 2022 /PRNewswire/ -- Montreal-based startup designstripe received a $10M investment from New York-based global venture capital and private equity firm Insight Partners, with participation from Silicon Valley Bank to help it deliver intuitive and slick creative tools for everyone. The visual communication challenger will use the funding to enhance and expand its design tools in all creative categories including photo, motion and video.designstripe was founded in 2020 by serial entrepreneur and investor Francois Arbour, who sold his first business PremiumBeat to Shutterstock in 2015. designstripe currently offers a combination of customizable content and intuitive tools for non-designers across consumer and enterprise clients. ""Their easy-to-use, cost effective design tools offer clients the ability to create captivating imagery to enhance their users online experience," said Karl Theard, Director of Tech Banking at Silicon Valley Bank in Quebec.Fully remote since day one, and born amidst the pandemic, the founding team at designstripe has been passionate about building a well-being oriented culture, using it as a performance lever and to attract top talent. Long term, the company is uniquely positioned to grow by leveraging its organic reach and by acquiring valuable websites, which it has already demonstrated via the acquisitions of Drawkit, Growwwkit and other compelling design tools. designstripes product strategy is one comparable to building blocks; its latest capital raise will help it build a scalable and powerful editing tool, and continue to invest in generating high quality, customizable and consistent design assets.Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries.