US-style Russian start-up raises $500,000 to compete with SlideShare

September 12, 2013

Venture fund Prostor Capital has just invested $500,000 in Penxy, a Moscow-based startup that allows presenters to create «narrated slide shows».

The Penxy iOS app, which was released this past June, allows one-tap streaming and recording of live presentations. This free app is easier to use than SlideShare, as presenters do not have to upload their slides, specify the timing of transitions individually, and then upload a separate audio file, all while ensuring that these files are in sync.

Penxy streams and records live presentations as narrated slide shows. Three months after release, Penxy has 77 high-quality presentation records and 5,258 unique views of these records.

The start-up is now focused on building a platform for sharing knowledge in partnership with conference and event organizers.

A team of ten people, including four software engineers, two QA engineers, and two business development managers, now supports the project that started in April 2012. Based in Moscow, Penxy has international aspirations: it has opened a development office in San Francisco and employs a business development lead for US promotion. The start-up’s founders Vladimir Platov and Alexey Petrov created Penxy in April 2012 after graduating from the Moscow Institute of Physics and Technology.

Previous investments in the start-up include a $70,000 grant from Microsoft Seed Fund and a $50,000 grant from Skolkovo. The company’s pre-money valuation prior to this most recent investment was $1.85 million, Platov told EWDN.