Modyfi launches full public beta for AI design platform, announces $7M in seed funding led by NEA

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Aug 23, 2023, 09:00 ET

LOS ANGELES, Aug. 23, 2023 /PRNewswire/ -- Modyfi, an AI-native design platform and image editor, today announced the launch of its full public beta, which grants immediate, free access to the platform for all designers, creatives, art directors, marketing professionals, artists, agency teams and content creators, among others. Modyfi brings next-generation technology to design through a high-performance, web-based AI-powered application that enables greater creativity, teamwork and collaboration.

The last decade has been defined by major advancements across a variety of web applications, and the past year has seen mainstream adoption of generative AI and text-generation tools like ChatGPT. On the contrary, design tools, including widely used desktop-based software, haven't materially changed in decades or implemented generative AI in a way that improves the day-to-day process of design professionals. Modyfi fills the gap by allowing users to directly tap into the power of generative AI while designing and collaborating on their work.

Since June, Modyfi has been issuing new features weekly, listening to users to understand their needs and adapting the platform for their experience. Such features include proprietary versions of in-painting, generative-fill, SDXL and utilizing Meta's SAM for layer splitting. These features add to Modyfi's existing functionality which includes background removal, smart delete and the company's flagship image guided generation.

"At Modyfi, we inspire today and tomorrow's creatives by simplifying the design process, removing mundane tasks, making teamwork easier and making image creation faster than ever. We want creators to be creative 100% of the time, not just 40% of the time," said Joe Burfitt, Founder and CEO, Modyfi. "Modyfi is making design fun again. We are excited to get Modyfi into the hands of the creative community, combining the conventional tools designers expect with generative AI technology and bringing it directly to designers and their teams to allow for quick exploration and iteration of creative concepts."

Modyfi is currently used by thousands of designers from hundreds of companies – including Nvidia, Stripe, Calm, Red Antler, Route and Spotify – who aim to simplify collaboration across the design process through generative AI.

In addition to today's public launch, Modyfi has raised $7 million in seed funding led by New Enterprise Associates, Inc. (NEA). The new capital will be used to fuel early user adoption and continued product development. Previous investors, including General Catalyst, participated in the round.

"We are proud to be partnering with the Modyfi team as they accelerate innovation across the graphic design industry," said Luke Pappas, Partner, NEA. "Since launching only a few weeks ago, Modyfi is already seeing really encouraging early adoption, but it is the enthusiasm and can't-work-without-it usage that early adopters have been exhibiting, that gets us really excited. Historically, this type of designer and design tool affinity is quite rare, and so we cannot wait to see how creators will continue to push the limits of Modyfi in the months to come."

About Modyfi
Modyfi is a collaborative, AI-native, web-based design and image creation platform. Founded in 2022, Modyfi combines the essential tools of design and image making with next-generation AI-powered creative technology, affording professional graphic designers incredible control while allowing room for playful exploration. Modyfi removes mundane and cumbersome steps from designers' workflows and enables creative teams to work together, provide feedback and iterate on design in real-time. For more information, please visit www.modyfi.com.

About NEA
New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. Founded in 1977, NEA has over $25 billion in assets under management as of March 31, 2023 and invests in technology and healthcare companies at all stages in a company's lifecycle, from seed stage through IPO. The firm's long track record of investing includes more than 270 portfolio company IPOs and more than 450 mergers and acquisitions. For more information, please visit www.nea.com.

Contact
Erica Sunkin, [email protected]

SOURCE NEA