Prezent, a fast-growing enterprise collaboration company based in Los Altos, California, has closed a $30 million Series B financing round. The investment round was led by Multiplier Capital, Greycroft, and Nomura Strategic Ventures. With this new investment, Prezent’s total funding has exceeded $74 million. Today, the company is speaking the language of Silicon Valley, celebrating the high-flying valuation of $400 million. Rajat Mishra started Prezent to change the way businesses communicate. The firm is the creator of the first enterprise-focused, AI-enabled presentation builder.
The funding will enable Prezent to aggressively pursue strategic acquisitions and partnerships. They’ll work across sectors, including executive communication coaching, medical writing, and communication-centered consulting firms. Prezent’s bold move in this direction has made its first big step in this strategy by acquiring Prezentium. This services-led, technology-driven presentation company focuses specifically on the life sciences vertical. Joining forces provides Prezent with an opportunity to develop Prezentium’s existing customer base. As a result, Prezent can offer its AI suite to a wider market.
Rajat Mishra, an ex-Mckinsey employee, has written for such acclaimed publications as the Huffington Post and The Next Web. He highlights the company’s commitment to solving very particular gaps in today’s industry. There are all sorts of other tools out there that are just focused on making presentations look nice. We deeply appreciate your interest in making business communications the most productive and contextually rich medium available. I believe presentation is one of the last frontiers in business that can’t be automated. We aim to empower data scientists and designers to be able to easily communicate with this automation,” he continued.
Prezent expects to set itself apart from the rest by making a very focused, hands-on effort for training AI models specifically targeted for various industries. To make its presentations more engaging, the startup has some interesting plans to introduce digital avatars to its presentations. This progress parallels the advanced technologies developed by Synthesia and D-ID. This initiative reflects Prezent’s focus on serving clients primarily in the life sciences and tech sectors, where effective communication is critical.
In addition, Mishra is realistic about the difficulties of implementing generative AI in enterprise settings. AI can do a lot of things within an enterprise context, but AI itself is incapable of teaching people how to properly leverage it. That’s why we plan to embed presentation engineers with companies, getting our customers using the product faster and reaping the benefits sooner. Prezent’s hands-on project management is intended to make sure the technology is adopted quickly and effectively.
Mark Terbeek, a partner with Prezent backer Greycroft Partners, explained why he believes in Prezent’s potential. We knew that Rajat and Prezent were dialed in about solving important customer pain points in the growing area of business communications. He specifically noted how fast innovation in software was to accommodate the end users’ workflows. This evolution massively increased users’ ability to save time.
Prezent’s long-term goal is to lead the enterprise presentation landscape. It provides enterprises cutting-edge tools that significantly increase communication productivity and effectiveness. The startup’s rapid success is a testament to the increasing need for organizations to adopt AI technologies and integrate them into their operations.