Photoways, a European photo-sharing, storing and printing service, has raised about $5 million in a Series B round of funding, led by new investor HarbourVest Partners LLC, Boston, and repeat investors Index Ventures and Highland Capital Partners. The announcement includes the appointment of Peter Lipson, a HarbourVest Principal, to its Board of Directors.
With over 4 million members, Photoways has been in the online photo-sharing realm for some time, offering tools for storing and printing images, as well as providing services for the creation of photo-books, personalized calendars, t-shirts, mugs, greeting cards, and more. With Photoways generating about $15 million in revenue last year, its fast and significant growth makes it a leader in the European market.