# Hovhannes Avoyan

> Hovhannes Avoyan is an Armenian-American entrepreneur, engineer and investor who co-founded Picsart in 2011 and remains its CEO. A rejected art-school applicant turned computer scientist, he helped create the photo and video editing platform after his daughter was discouraged by criticism of her artwork. Based in North Miami Beach, he also supports technical education and entrepreneurship in Armenia, including through the American University of Armenia.

- **Role:** Co-founder and CEO at Picsart
- **Organizations:** Picsart, American University of Armenia, CEDIT, Sourcio, Monitis, Union of Information Technology Enterprises of Armenia, Endeavor
- **From:** Yerevan, Armenia
- **Nationality:** Armenian-American
- **Education:** B.S. in Computer Science, State Engineering University of Armenia, Master of Political Science and International Affairs, American University of Armenia, Bertelsmann Senior Executive Program (executive education), Harvard Business School
- **Known for:** Co-founded Picsart, which attained a company valuation around $1.5 billion in its August 2021 financing., Built and exited software businesses including CEDIT, Monitis and Sourcio., Received the first AUA Distinguished Alumni Award in 2016.

## Career timeline

- **1987** — Graduated in computer science from the State Engineering University of Armenia.
- **1995** — Completed a master’s in political science and international affairs at AUA.
- **1996** — Founded CEDIT, acquired by Brience in 2000.
- **2000-2015** — Served as president of the Union of Information Technology Enterprises of Armenia.
- **2005** — Founded Sourcio, subsequently acquired by HelpSystems in 2016.
- **2007** — Founded Monitis, acquired by TeamViewer/GFI in 2011.
- **2011** — Co-founded Picsart and became CEO.
- **2016** — Received AUA’s first Distinguished Alumni Award.
- **2019** — Appointed an AUA Corporation trustee; AUA and Picsart announced a joint AI lab in December.
- **2021** — Picsart raised $130 million at a valuation around $1.5 billion.
- **2026** — Selected as an Endeavor Entrepreneur in March; received an Armenian state award in August.

## Achievements

- Co-founded Picsart, which attained a company valuation around $1.5 billion in its August 2021 financing.
- Built and exited software businesses including CEDIT, Monitis and Sourcio.
- Received the first AUA Distinguished Alumni Award in 2016.
- Helped establish the AUA-Picsart AI lab announced in December 2019.
- Received Armenia’s second-degree Order For Services to the Fatherland, presented August 6, 2026.

## Latest updates

- **2026-09** — Picsart announced Lusine Yeghiazaryan as CFO as it expanded its AI and video production business.
- **2026-08** — President Vahagn Khachaturyan presented Avoyan with the second-degree Order For Services to the Fatherland on August 6.
- **2026-08** — Picsart’s press kit lists the launch of AI Playground’s native Mac and Windows desktop app.
- **2026-06** — SXSW London listed Avoyan for sessions titled The Autonomous Muse and Designing for Trust on June 4.
- **2026-03** — Selected as an Endeavor Entrepreneur at the March International Selection Panel, announced by Endeavor Miami on May 7.

## Links

- Website: https://picsart.com/u/hov
- LinkedIn: https://www.linkedin.com/in/avoyan
- Twitter/X: https://x.com/havoyan
- Facebook: https://www.facebook.com/hovhannes

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Profile page: https://yespress.io/hovhannes-avoyan
Published by YesPress — https://yespress.io
Last updated: 2026-10-26