Giphy Raises $2.4 Million Series A for Its GIF Search Engine

May 20, 2014

1:00 pm

Last week, NYC-based Giphy raised a $2.4 million Series A round of funding, as reported by Strictly VC. According to a post published on the company’s blog, the round was led by Betaworks, with participation from Lerer Ventures, RRE Ventures, and CAA Ventures.

“It’s been a little over a year since we launched Giphy, and since then we’ve been blessed to be able to work with some of the best people, artists, and brands who have helped us grow to serve over 1 billion GIFs a month and growing,” said the company in a blog post last week.

Since launching in February of 2013, the GIF search engine has quickly become an essential tool in our modern age of daily GIF consumption (hello, BuzzFeed). The SEC filing states that the company has raised $2.4 million of a $2.5 million round; the remaining $100,000 in equity will be raised through Alphaworks, a new crowdfunding platform created by Betaworks.

This is the first round of funding since the company was launched out of Betaworks with $1 million in seed funding. On the same day of the funding announcement, Giphy released a new link shortener feature that will allow you shorten a link to any content and match it up with GIF, all in one, shortened URL.

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Ronald Barba is the senior writer and assistant editor for Tech.Co. His primary story interests include industry trends, consumer-facing apps/products, the startup lifestyle, business ethics, diversity in tech, and what-is-this-bullsh*t things. Aside from writing about startups and entrepreneurship, Ronald is interested in 'Doctor Who', Murakami, 'The Mindy Project', and fried chicken. He is currently based in New York because he mistakenly studied philosophy in college and is now a "writer". He also likes to cook things; you can check out all the noms on his Instagram. Email Ronald (ronald@tech.co) or tweet @RonaldPBarba. You can also subscribe to him on Facebook or find him on Google.

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