Twenty20, the startup formerly known as Instacanvas, today announced that it has raised an $8 million Series A round led by Canaan Partners. With this funding round, Twenty20 has also finalized its transformation from printing service for Instagram pictures to photo-licensing service. Indeed, with over 45 million photos from 250,000 photographers in its library, Twenty20 is now larger than most established commercial image catalogs. This, Twenty20 claims, makes it the largest crowdsourced image catalog ever created.
As Twenty20 founder Matt Munson told me, it was a tough decision for the team to shut down the printing side of the business. “It was one of the harder choices but we wanted to deliver a simpler product and dedicate resources to it.”
The new Twenty20 now allows mobile photographers to make their photos available for licensing through the company’s web app or mobile app on iOS (Android coming soon). Businesses…
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