|[September 24, 2013]
Peak Ventures Leads $800,000 Investment to Tech Startup Studio
PROVO, Utah --(Business Wire)--
Peak Ventures, a seed-stage investment company, today announced it was
the lead investor on an $800,000 seed round to Provo-based Studio, a
mobile social design platform that allows users to create and share
designs. Also participating in the round were CrunchFund, SV Angel and
Kickstart Seed Fund.
"Studio will do for design what blogs have done for writers and what
Instagram did for photography," said Jeff Burningham, founder and
managing director of Peak Ventures. "With Studio everyone can create
great designs. From Studio's inception, Peak Ventures has supported this
emerging and exciting Utah-based company. More than 1 million users have
downloaded the Studio app since August, when first launched. And this is
just the beginning."
Studio is a Top 20 "What's Hot" design application distributed solely on
the iTunes App Store that allows users to choose from a collection of
pre-made designs and apply those designs to personal photos. The app
offers hundreds of free design elements to color, scale and position.
Users have created more than 1.3 million designs, with nearly 2 million
social shares on Facebook (News - Alert), Twitter, Instagram and Pinterest. Studio is
more than a design tool. It also is a community where friends can
inspire each other and reuse designs they like. As users share in
Studio, the creative power of the community multiplies.
Peak Ventures, a wholly owned subsidiary of Peak Capital Partners,
shares a passion for technology and invests in promising seed-stage tech
startups, entrepreneurs and operating businesses. To date, Peak Ventures
has invested in 13 companies, including a recent investment in Tute
Genomics, a Utah-based firm that has the ability to analyze and annotate
personal genomes through a web application to help researchers and
clinicians identify disease variants to aid in the genetic diagnosis of
Peak Ventures, a wholly owned subsidiary of Peak Capital Partners, is an
early-stage investment firm. Peak Ventures invests in talented
entrepreneurs with exceptional technologies. To date, Peak Ventures has
invested in 13 businesses to serve a growing real estate portfolio and
support emerging entrepreneurs throughout the state of Utah.
About Peak Capital Partners
Peak Capital Partners and its affiliates own and manage conventional,
affordable, and student apartment communities in growth markets in the
United States. Founded in 2007, Peak Capital Partners owns 31 apartment
communities in eight states. Today, the firm has an asset portfolio
valued at $425 million.
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