designstripe raises $10M from Insight Partners and Silicon Valley Bank to build smart design tools.
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. End users in need of design assets no longer have to start from scratch, as designstripe owns a large repository of customizable assets and illustrations with the ability to export to a variety of file types. Since the launch of its initial product the company has achieved significant growth in new clients and daily users.
"We noticed a gap between professional design services and inconsistent, low-quality content libraries on the web. Our initial launch addressed this divergence, allowing non-professional designers to create designs without sacrificing consistency or quality," said Francois Arbour, co-founder and CEO.
"With customizable content and intuitive tools, designstripe allows anyone to create professional looking designs. designstripe is already disrupting the desgn tool category and has enormous potential across multiple horizontal design categories," said Thilo Semmelbauer, Managing Director at Insight Partners. "We're excited to partner with Francois and his team as they continue to grow and scale up."
"Their easy-to-use, cost effective design tools offer clients the ability to create captivating imagery to enhance their user's 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. designstripe's 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.
About Insight Partners
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. As of February 24, 2022, the closing of the firm's recent fundraise, Fund XII, brings Insight Partners' regulatory assets under management to over $90B. Insight Partners has invested in more than 600 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Insight Partners meets great software leaders where they are in their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners
About SVB Canada
Silicon Valley Bank, the bank of the world's most innovative companies and investors, provides commercial banking services, expertise and insights to the technology, life science and healthcare, private equity and venture capital industries across Canada. Silicon Valley Bank's commercial and international banking services help address the unique needs of its dynamic, fast-growing, innovative clients. Learn more at svb.com/canada.
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