The UK/Israel-based presentation software startup PowToon announced that it has secured $600K in outside funding. On this occasion, the serial entrepreneur, Ilya Spitalnik, who is the CEO of PowToon said that the company will deploy a major part of this fresh investment to add new features and iterations to its platform which allows inexpert users to create inspiring short videos and animated presentations without facing any problem.
PowToon did not gain this investment from any traditional VC firm, in fact it came from a new L.A. based accelerator, Startup Minds, which can now get involved in the internal matters of this company up to the amount it has funded. Moreover, the accelerator does not have to deal with any time limits as well.
Startup Minds decided to invest in PowToon after its founder, Dr. David Gonen came across this animation platform while he was searching for an inexpensive way to make presentations for the companies in his portfolio. After using this new software Gonen really admired PowToon’s creators work, as he said, “The limited options for creating affordable and non traditional marketing collateral is mind-blowing.”
This seems to be a smart move by Gonen because with PowToon so far users have created over 75,000 presentations. Moreover, it’s a customer base that is mainly comprises of marketers and startups and is expanding swiftly. In addition, to further boost its user base the company has now reached out to educational sector with the help of its strategic partner Discovery Education.
The main credit forPowToon’s success goes to its Do It Yourself (DIY) solution that uses “explainer” or marketing videos, in which cartoon characters explain different ideas or solutions, which has helped a lot in attracting users. Such videos are commonly used in demo presentations of start-ups to educate investors about the company.
Apart from this, users can also access range of templates and other stuff, which is sourced from various animators, designers, sound artists and voice actors, as they use platform of PowToon to sell their content.
Inexpert users use these templates and content by simply dragging and dropping them onto their slides after selection and then add sound and text to reveal the end result, which can then be shared on social networking websites and on YouTube.
Source: TechCrunch
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