PicsArt photo-editing mobile app developed by Armenian specialists will raise USD 15 million in new funding.

Fortune.com reported it with a reference to its sources.

It should be recalled that a few months ago PicsArt raised USD 10 million in funding from Sequoia Capital venture capital firm. According to Fortune, Sequoia is included in this round as well, but is not the lead investor.

With 60 million monthly active users, PicsArt founded by Hovhannes Avoyan and Artavazd Mehrabyan in November 2011 has 250 million downloads in all platforms.

PicsArt is a photo-editing app, which brings together lovers of art. It is considered to be a mixture of Photoshop and Instagram.