The company added 33 million monthly users in its first year.
Flipagram, a mobile app that allows users to create short photo-video stories set to music, has raised $70M in a B round of funding.
The funding was led by Sequoia, Kleiner Perkins Caufield & Byers and Index Ventures.
Following the deal, Sequoia’s Michael Moritz and KPCB’s John Doerr will join the company’s board.
Flipagram lets users create 30 seconds of video consisting of photos and videos and lets users ‘flip’ through a stream of content.
By taping, the content users can see more of the content selected, and at any moment they can switch to view photos uploaded by other users.
Sequoia’s Michael Moritz said: "Flipagrams are easy to create and the way they combine photos, video, music and audio furnishes them with a global appeal.
"Flipagram’s popularity shows that the app has touched a chord with people everywhere."
The company also announced that it has signed global licensing deals with top record companies like Universal Music Group, Sony Music Entertainment, and Warner Music, which will give its users access to millions of music clips, from the most popular to the most obscure songs that can be used in their own Flipagrams.
Flipagram CEO Farhad Mohit said: "With these deals, our users get unprecedented access to a comprehensive catalog of popular, classic and indie song clips to use as the soundtrack to their Flipagram stories.
"And our music partners benefit from having their music featured and available for purchase in the tens of millions of Flipagrams being created and shared each month worldwide."