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.