Boulder, CO-- LifePics today announced that it has closed on almost $4MM of funding from a syndicate of investors led by Jovian Holdings. LifePics also announced that it has expanded its board of directors by adding Jared Polis and Joel Citron as representatives of Jovian Holdings and Arthur Laffer, a world-renowned economist and investment manager. Joel Citron will serve as chairman of the board of directors.
“LifePics has built up a first class set of customers and business partners,” said Jared Polis. “The business has clearly taken off. There are a lot of similarities between LifePics and some of our prior activities including BlueMountainArts.com and ProFlowers.com (Provide Commerce Inc.)” Joel Citron added, “We are looking forward to helping LifePics accelerate their growth. We have always strongly believed in online businesses that make a strong emotional connection with consumers, and photos capture consumers’ most treasured memories.”
“We had been opportunistically looking for expansion capital to fund our growth, and Jovian was a great fit on many levels,” said Rick Patch, CEO of LifePics. “The business solution we provide, ordering photos from home and picking them up at a favorite local retailer, is exploding. Two years ago our service was in use at less than 100 retail locations. Today 3,500 retail locations use our service and we are on track to be at 6,000 shortly. There are a lot of ways we can further grow the business with the right investors, and we are thrilled to have Jovian as an investment partner.”
LifePics is the market leader in online imaging solutions for photofinishers and professional photographers. Using LifePics’ technology, photofinishers and professional photographers are able to accept orders from consumers via the Internet and send those orders directly to a photofinishing lab that is most convenient to the consumer.
More retailers use LifePics than any other online imaging solution. LifePics’ customers range from mass merchants and large food and drug chains to local camera shops and independent photofinishers. These retailers offer the service at more than 3,500 stores across the U.S. and Canada. LifePics works closely with these retailers to help them build their online photo businesses.