🏆 Deal of the Week · CW 45/2022
PhotoRoom raised USD 19 million in a Series A round; the post-money valuation was not disclosed. The round was backed by Adjacent, Balderton Capital, Hugging Face, and Meta. This deal was recognised as Venionaire DealMatrix Deal of the Week for KW 45/2022.
PhotoRoom — key deal facts
| Company | PhotoRoom |
| Founded | 2019 |
| Headquarters | Paris, France |
| Amount raised | USD 19M |
| Valuation | Valuation Remains Undisclosed |
| Round | Series A |
| Investors | Adjacent (https://adjacent.com/) Balderton Capital (https://www.balderton.com/) Hugging Face (https://huggingface.co/) Meta (https://about.meta.com/) |
| Sectors | Artificial Intelligence |
Who invested in PhotoRoom?
The Series A attracted four investors: Adjacent, Balderton Capital, Hugging Face, and Meta. The participation of Hugging Face, itself a leading open-source AI platform, and Meta, the global social media and AI research conglomerate, is notable for an early-stage round and signals strong conviction from within the AI ecosystem. Balderton Capital, a prominent European venture firm, provides regional institutional weight alongside Adjacent.
What does PhotoRoom do?
PhotoRoom is a Paris-based artificial intelligence company founded in 2019. The company develops deep learning technology for image creation and editing, offering a mobile application and web-based tools used daily by millions of users worldwide. Its core features include AI-driven background removal, object editing, and batch processing designed for e-commerce merchants and professional sellers. PhotoRoom also provides enterprise-grade capabilities including custom AI models and API access for catalog-scale image production.
PhotoRoom valuation & multiples
Explore the benchmarks: Series A.
Frequently asked questions
How much did PhotoRoom raise in its Series A?
PhotoRoom raised USD 19 million in a Series A round announced in November 2022.
What is PhotoRoom's valuation?
PhotoRoom's post-money valuation was not disclosed as part of this Series A funding announcement.
Who invested in PhotoRoom?
The Series A investors were Adjacent, Balderton Capital, Hugging Face, and Meta.
When was PhotoRoom founded and where is it based?
PhotoRoom was founded in 2019 and is headquartered in Paris, France.
Source: original announcement — read the full report.