Pitch Raises $85M at $600M Valuation - Presentation Software

A New Challenger to PowerPoint Emerges: Pitch Secures $85 Million

While Microsoft’s PowerPoint remains a dominant force in the presentation software market, a Berlin-based startup named Pitch is aiming to disrupt this established order. The company has recently secured $85 million in Series B funding to further develop its dynamic presentation platform.

Funding Details and Valuation

This funding round was spearheaded by Lakestar and Tiger Global, with participation from existing investors Index Ventures and Thrive Capital. Sources indicate that Pitch’s valuation has now reached $600 million.

The Vision: A "YouTube for Presentations"

According to CEO and co-founder Christian Reber, Pitch aspires to become the “YouTube for presentations.” This entails a platform where users can effortlessly create, collaborate on, and share presentations through an online interface.

A Personal Motivation

Reber’s drive to challenge Microsoft stems from a previous experience. His former startup, Wunderlist, was acquired by Microsoft and subsequently discontinued, a decision that left him disillusioned.

Strategic Use of Funds

The newly acquired funding will be allocated to several key areas. These include expanding the team and broadening the platform’s reach. Pitch has already demonstrated positive momentum, with tens of thousands of teams utilizing the platform and creating over 125,000 workspaces.

Current User Base

Notably, Pitch’s customer roster includes prominent companies in the productivity space, such as Intercom, Superhuman, and Notion.

Freemium Model and Pitch Pro

The company intends to attract more users to its freemium offering and convert them to Pitch Pro, a paid subscription priced at $10 per user per month. Pitch Pro provides enhanced features like unlimited storage, video uploads, version history, and advanced permission controls. Reber reports that the Pro tier already has “a couple of thousand” subscribers, validating the business model.

Enterprise Expansion

Pitch is also developing an enterprise version to cater to larger organizations and deployments, aiming to compete directly with PowerPoint’s dominance in the corporate sector.

Introducing a Presentation Ecosystem

Pitch plans to expand its functionality by introducing an ecosystem for presentation designers and creators. This will allow them to upload templates and presentations, assisting others in creating their own content.

Empowering Creators

Reber emphasizes the goal of celebrating creators, though the initial implementation will not involve direct payment. The focus is on fostering a collaborative exchange of designs and ideas. However, the potential for a future marketplace is recognized.

User-Generated Content Moderation

Initially, Pitch will curate user-generated content, but the long-term plan is to open it up to all users.

Presentation Analytics

A new feature being rolled out is presentation analytics. This will provide data on user engagement, such as click-through rates, time spent on content, and drop-off points – mirroring analytics used for email and web traffic. The platform, built on HTML code, will enable presenters to optimize their presentations through A-B testing.

Privacy Considerations

Reber assures that analytics will be opt-in only, respecting user privacy. As a German company, Pitch prioritizes data privacy and aims to implement features in a privacy-first manner, similar to YouTube’s analytics approach.

Enhanced Video Features

Pitch is also integrating more video features, including narrative recording and playback. Future development may include live presentation capabilities, catering to webinars and live events.

Towards a More Versatile Platform

The company envisions Pitch evolving into a more versatile platform, potentially incorporating website building functionality. The underlying HTML structure of presentations lends itself to this expansion.

Potential Applications

While not intended for complex publications, this feature could enable users to create basic websites for small businesses, similar to platforms like Squarespace.

Investor Confidence

Investors are enthusiastic about Pitch’s potential. Stephen Nundy, partner at Lakestar, stated that the company’s vision extends beyond simply replacing existing presentation software. He believes Pitch will revolutionize the entire presentation workflow.

A Global Opportunity

John Curtius, partner at Tiger Global, added that Pitch has the potential to become a true productivity platform and expressed excitement about investing in the company.

Reber’s Perspective

Reber shared his insights on the new tools and the future direction of Pitch.