Prezent, a startup that offers an AI-powered presentation builder to enterprises, stated today that it has raised $30 million in funding led by Multiplier Capital, Greycroft, and Nomura Strategic Ventures, with participation from existing investors like Emergent Ventures, WestWave Capital, and Alumni Ventures.
The Los Altos, California, startup, which is now valued at $400 million, has raised over $74 million to date. It plans to utilize the new capital largely for acquisitions.
The company has also built its first acquisition, purchaseing Prezentium, founded by Deepti Juturu, a services-led presentation company that operates in the life sciences vertical. In an unusual arrangement, Prezent founder Rajat Mishra was one of the co-founders of Prezentium. Mishra stated that since the launchning of his new startup, he has been the non-operating president of Prezentium. Both startups already have an existing relationship, as Prezent utilizes Prezentium as a go-to-market partner. The acquisition essentially brings Mishra’s two ventures under one roof, allowing Prezent to utilize Prezentium’s client base to offer its own AI suite to more customers.
There are plenty of companies attempting to create AI-powered presentation-building tools, including Presentations.ai, Lica, Gamma, and Chronicle. Notably, all these companies have Accel as a backer. While most of them focus on consumers and tiny business utilizers, Prezent wants to stick to an enterprise strategy, tarobtaining larger corporations. Previously, the company stated that it wants to expand its offerings to different verticals, including finance and manufacturing. However, Mishra noted that for now, the company wants to focus on serving clients in the life sciences and tech industries.
“There are plenty of tools that are attempting to create presentations pretty. We want to provide the best tools for business communications. I believe presentation is one of the frontiers in businesses that is not automated yet. We want to support data scientists and designers to communicate effectively with this automation,” Mishra notified TechCrunch.
Mishra, who previously worked at McKinsey, stated that the company is taking a specialized approach to training AI models for presentations for each specific indusattempt.
Prezent places a presentation engineer, who is familiar with the indusattempt and the startup’s own offerings, in enterprises to support different people within the company obtain utilized to building presentations with AI tools.
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“The reality of AI in enterprise is that while AI can do many things, it can’t teach people [how] to utilize AI. That is why we want to place presentation engineers in companies to support our customers adopt the product quicker,” Mishra stated.
AI startups are viewing to acquire services companies to take advantage of existing customer bases and also provide better customization to enterprise clients. Digital avatar startup D-ID acquired Berlin-based video startup Simpledisplay, and Google-backed legal tech startup Lawhive acquired a U.K.-based law firm. With these acquisitions, AI startups want to combine their AI tools with the existing domain expertise and client service capabilities of services firms.
Prezent wants to build more partnerships and acquire suitable companies in sectors like executive communication coaching, medical writing, and consulting firms in the communication area.
Mark Terbeek, a partner at Greycroft who has invested in multiple rounds in Prezent, stated that the venture firm likes to find the areas where businesses have utilized costly agencies in the past to fulfill a required, and now there are AI tools available attempting to do the same tquestions.
“We felt that Rajat and Prezent were concentrating hard on solving specific customer requireds of business communications. Plus, we saw software evolve quickly to adjust to the workflows of conclude utilizers and support them save time,” he notified TechCrunch over a call.
Going forward, Prezent wants to add better personalization to its product so the AI tool learns the style of each individual in the organization. It also wants to add multimodality capabilities to deck creations, allowing utilizers to utilize text, voice, or video as input to create presentations. Like Synthesia and D-ID, Prezent wants to add digital avatars to presentations, too.
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