Peak Ventures Leads $800,000 Investment to Tech Startup Studio

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, 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.

2017-05-23T11:36:49-06:00 October 16th, 2013|

About the Author:

The Wayne Brown Institute was founded by the late Dr. Wayne Brown in 1983. Dr. Brown held positions in mechanical engineering and served as Dean of the College of Engineering at the University of Utah. In addition to his academic postings, he was a founder of Kenway Engineering (HK Systems), TerraTek, NPI (Agridyne Technologies), the Utah Innovation Center (the world’s first venture accelerator/incubator) and Utah Ventures (now Pelion Partners, Utah’s first and largest venture fund). By virtue of his academic, government, and business background, Dr. Brown was a leading authority in technological innovation and entrepreneurship. Many of the world’s science/research parks, innovation centers, and incubators have their roots with Dr. Brown. In addition to his many accomplishments, he has affected the role of government in innovation and entrepreneurship as the architect with Roland Tibbitts of the national Small Business Innovation Research (SBIR) program. Later, as head of the State’s Science Council he spearheaded legislation to create the Utah Technology Finance Corporation (UTFC, now Innoventures), and Utah’s Centers of Excellence program. He successfully negotiated with the U. S. government to obtain military land for the establishment of the University of Utah’s Research Park, and key in the establishment of the USU Research Park and Timpanogos technology Park in Orem (Novell campus). His knowledge, experience and passion live on in the Wayne Brown Institute, its staff, its investor-led Board, and its countless supporters.