The round was led by Square Peg Capital, with additional participation from XYZ Venture Capital, GreatPoint Ventures, and existing investors, 500 Startups and M12, Microsoft's Venture Fund. LottieFiles will use the funding to further its product roadmap, expand its operations to cater to the expanding user base. The company plans to launch a new design workflow and collaboration solution to its global user base in summer 2022, which will enable designers to save more than 15 hours per asset shipped and give users 80% more time to focus on creativity. Using Lottie, motion designers and developers can save weeks of effort by not having to code motion graphics individually for each platform.

Animation workflow platform, LottieFiles is leading a revolution in motion through a powerful new format, Lottie. The company serves a large community from everyday storytellers to motion and graphic designers, animators and developers working with the JSON-based, scalable animation that is 600% smaller in size compared to GIF. LottieFiles aims to streamline the animation workflow and create a new realm of possibilities with Lottie animations across media, marketing, platforms and gaming for its users worldwide. LottieFiles has the world's largest library of animations with more than 50,000 free and premium Lottie animations, and currently serves over 135,000 companies all around the world.