PicMonkey is a web-based photo editing and graphic design platform used by consumers, SMBs and large enterprises.

Spectrum Equity is pleased to announce the sale of PicMonkey, a SaaS-based photo editing and graphic design platform, to Shutterstock.

First of its kind, subscribers can now create shared PicMonkey workspaces and invite others to co-design simultaneously, thereby boosting productivity and design quality.

Based on subscriber feedback and 18+ months of innovation, PicMonkey has announced the launch of an upgraded platform featuring new tools to take your photos to the next level.

Former Pandora and aQuantive executive and current Grubhub board chairman, Brian McAndrews joins PicMonkey’s board. He brings deep experience in scaling online subscription businesses to PicMonkey.