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Recraft's AI graphic design tool secures $12M in Series A funding

Jan 22, 2024almost 2 years ago

Amount Raised

$12 Million

San FranciscoArtificial Intelligence

Investors

Akshay KothariDharmesh ShahZhenya LoginovElad GilBasis SetAbstract VcRtp GlobalNat FriedmanKhosla Ventures

Description

Recraft announced a $12 million Series A funding round led by Khosla Ventures and former GitHub CEO Nat Friedman, with participation from RTP Global, Abstract VC, and Basis Set, as well as angel investors including Elad Gil, Zhenya Loginov, Dharmesh Shah, and Akshay Kothari.

Company Information

Company

Recraft

Location

San Francisco, California, United States

About

Recraft is the first generative AI design tool that lets users create and edit vector art, icons, 3D images and illustrations in a uniform brand style. Intuitive tools allow designers to harmonize elements like color palette, icon geometry and line style across groups of visual assets for cohesive brand consistency. Unlike most generative AI design tools, Recraft develops both raster images and vector images, which are infinitely more scalable. Users are equipped to tackle any kind of professional design task, by simply entering a text prompt or visual input and playing with design tools in Recrafts infinite canvas workspace. With over 300K users less than a year since its launch, Recraft is fast becoming the go-to platform for designers who need a quick, easy and fun way to create and edit visuals that are on-brand. It’s most recent round of 12M in funding will help Recraft continue to develop functionality that no other platform offers.

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Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech