Israeli slideshow app Slidely bags $7.3M to fund mobile plans
Photo and video slideshow platform Slidely has secured $7.3 million in new funding. Benson Oak Capital was the lead investor in the round, according to VentureBeat.
Just after the funding, the Israeli slideshow app has managed to reach the 40-million mark in the number of users, the report added.
The slideshow maker plans to use the new capital to beef up its mobile campaign. As of now, Slidely is already accessible on iOS devices. This year, the Tel Aviv-based startup plans to step up its mobile plans and work on its debut on Android. In addition, the firm is planning to branch out to the US, the report detailed.
According to chief executive officer (CEO) Tom More, Slidely is now "the No. 1, online slideshow platform." However, it has yet to maintain its growth by taking on its most prominent competitors such as Instaplayer and Animoto. Slidely was first established in 2012, VentureBeat reported.