Animated GIF search engine Giphy has taken in $55 million in funding, setting its valuation at $300 million, the company announced today.

giphy

Giphy’s latest round was led by Lightspeed Venture Partners, while General Catalyst Partners, RRE, and Betaworks followed.

The company isn’t trying monetize itself yet, as TechCrunch points out, but the company has expanded beyond GIF searching with a GIF-making app called Giphy Cam and a tie-in with Facebook Messenger.

We’re not sure what’s to come for Giphy as investors appear to grow more cautious amid a “tech correction.”

Sign up for Funding Daily: Get the latest news in your inbox every weekday.