PicMonkey is a cloud-based photo editing and graphic design platform that enables users to create high-impact visuals for various purposes, including social media posts, marketing materials, and personal projects. Accessible via web browser and mobile app, PicMonkey offers a comprehensive suite of tools for photo editing, graphic design, and touch-ups. The platform is known for its user-friendly interface, making it suitable for both beginners and advanced users. PicMonkey's extensive library of templates, graphics, and fonts allows users to quickly produce professional-quality designs, enhancing their visual storytelling capabilities.
PicMonkey was founded in April 2012 by former Picnik employees Brian Terry, Justin Huff, Charlie Whiton, and Lisa Conquergood, with financial backing from former Picnik CEO Jonathan Sposato. The founding team aimed to create a "fast and lightweight" photo editing experience following the shutdown of Picnik by Google. By February 2014, PicMonkey had become profitable, boasting over 13 million unique monthly users. The company's growth was further accelerated in July 2015 when it received a $41 million investment from Spectrum Equity. PicMonkey continued to evolve, adding new features and expanding its user base. In September 2021, PicMonkey was acquired by Shutterstock in a $110 million cash deal, further integrating its services with Shutterstock's extensive stock photo library.
PicMonkey has raised a total of $41 million over two funding rounds. The first significant investment came in July 2015 from Spectrum Equity, which provided the company with the capital needed to expand its offerings and scale its operations. The acquisition by Shutterstock in September 2021 valued PicMonkey at $110 million. This acquisition aimed to enhance Shutterstock's creative tools and expand its market reach, leveraging PicMonkey's user-friendly design platform and extensive customer base.
PicMonkey offers a wide range of features designed to meet the needs of both individual users and businesses. Key features include:
Photo Editor: Tools for cropping, resizing, and applying filters and effects.
Design Tools: Capabilities for creating logos, social media posts, banners, and more.
Templates: Thousands of customizable templates for various design needs.
Graphics and Fonts: Access to over 9,000 vector graphics and hundreds of fonts.
Brand Kit: A feature that allows users to store and manage brand assets like logos, fonts, and colors.
Collaboration Tools: Real-time co-editing and file sharing capabilities.
PicMonkey has not made any acquisitions itself but was acquired by Shutterstock in 2021. This acquisition has allowed PicMonkey to integrate Shutterstock's extensive stock photo library, enhancing its offerings and providing users with a broader range of creative assets. The acquisition also aimed to accelerate PicMonkey's growth and profitability by expanding its reach into enterprise and international markets.
PicMonkey continuously updates its platform with new features to enhance user experience. Recent additions include:
Background Remover: A one-click tool for removing backgrounds from images.
Smart Resize: Allows users to create multiple sizes of a design instantly.
Text Layouts and Template Sets: Pre-designed font pairings and matching templates for consistent branding.
Autosave to Hub: Ensures that users never lose their work.
PicMonkey's company culture is built on core values of fun, energy, and creativity. The company's workspace, designed by nationally-renowned architect Eric Cobb, reflects these values with unique architectural and interior design elements that foster a home-like and family-friendly atmosphere. PicMonkey emphasizes providing a supportive and collaborative environment for its employees, encouraging innovation and creativity in all aspects of its operations.
PicMonkey serves a diverse user base, including social media marketers, small business entrepreneurs, and individuals looking to create visually appealing content. The platform is trusted by some of the world's best brands and has a strong community of users who rely on its tools for their creative needs. PicMonkey's extensive library of templates, graphics, and fonts, combined with its user-friendly interface, makes it a popular choice for anyone looking to create impactful visual content. The acquisition by Shutterstock has further expanded its reach, adding more than 200,000 subscribers to its user base.
