Prezent, a startup that provides an AI-powered presentation builder to enterprises, stated in the present day that it has raised $30 million in funding led by Multiplier Capital, Greycroft, and Nomura Strategic Ventures, with participation from present buyers 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 thus far. It plans to make use of the brand new capital largely for acquisitions.
The corporate has additionally made its first acquisition, shopping for Prezentium, a services-led presentation firm that operates within the life sciences vertical. In an uncommon association, Prezent founder Rahul Mishra was one of many co-founders of Prezentium. Mishra stated that because the starting of his new startup, he has been the non-operating president of Prezentium. Each startups have already got an present relationship, as Prezent makes use of Prezentium as a go-to-market companion. The acquisition basically brings Mishra’s two ventures below one roof, permitting Prezent to make use of Prezentium’s shopper base to supply its personal AI suite to extra prospects.
There are many firms making an attempt to create AI-powered presentation-building instruments, together with Displays.ai, Lica, Gamma, and Chronicle. Notably, all these firms have Accel as a backer. Whereas most of them concentrate on shoppers and small enterprise customers, Prezent needs to stay to an enterprise technique, focusing on bigger firms. Beforehand, the corporate said that it needs to increase its choices to totally different verticals, together with finance and manufacturing. Nonetheless, Mishra famous that for now, the corporate needs to concentrate on serving shoppers within the life sciences and tech industries.
“There are many instruments which might be making an attempt to make shows fairly. We wish to present the most effective instruments for enterprise communications. I feel presentation is likely one of the frontiers in companies that isn’t automated but. We wish to assist knowledge scientists and designers to speak successfully with this automation,” Mishra advised iinfoai.
Mishra, who beforehand labored at McKinsey, stated that the corporate is taking a specialised strategy to coaching AI fashions for shows for every particular trade.
Prezent locations a presentation engineer, who’s aware of the trade and the startup’s personal choices, in enterprises to assist totally different folks throughout the firm get used to constructing shows with AI instruments.
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“The fact of AI in enterprise is that whereas AI can do many issues, it could’t educate folks [how] to make use of AI. That’s the reason we wish to place presentation engineers in firms to assist our prospects undertake the product sooner,” Mishra stated.
AI startups wish to purchase companies firms to benefit from present buyer bases and in addition present higher customization to enterprise shoppers. Digital avatar startup D-ID acquired Berlin-based video startup Simpleshow, and Google-backed authorized tech startup Lawhive acquired a U.Okay.-based regulation agency. With these acquisitions, AI startups wish to mix their AI instruments with the present area experience and shopper service capabilities of companies corporations.
Prezent needs to construct extra partnerships and purchase appropriate firms in sectors like govt communication teaching, medical writing, and consulting corporations within the communication space.
Mark Terbeek, a companion at Greycroft who has invested in a number of rounds in Prezent, stated that the enterprise agency likes to search out the areas the place companies have used pricey companies previously to meet a necessity, and now there are AI instruments accessible making an attempt to do the identical duties.
“We felt that Rajat and Prezent have been concentrating arduous on fixing particular buyer wants of enterprise communications. Plus, we noticed software program evolve rapidly to regulate to the workflows of finish customers and assist them save time,” he advised iinfoai over a name.
Going ahead, Prezent needs so as to add higher personalization to its product so the AI instrument learns the type of every particular person within the group. It additionally needs so as to add multimodality capabilities to deck creations, permitting customers to make use of textual content, voice, or video as enter to make shows. Like Synthesia and D-ID, Prezent needs so as to add digital avatars to shows, too.
