After completing the Techstars Atlanta program, startup Punchlist Labs Inc. has raised $2 million to develop software that analyzes and improves graphics.
At a glance: Punchlist is an annotation platform that allows teams to give each other feedback on graphics, images, websites and pdfs. The 2-year-old startup has 8,000 users in 39 countries. The idea was born out of the experiences of co-founders Pete Bernardo and Nic Rosental with trying to send edits back and forth to other team members and clients at a local marketing agency. Punchlist allows those edits to happen directly on the project, creating a more streamlined process. Bernardo taught himself to code as he was building Punchlist then brought in Rosental to lead the tech side of the business.
Why it matters: Punchlist’s early funding demonstrates the mechanics of the Atlanta technology ecosystem. The locally-based accelerator program led to introductions to Overline, the Atlanta venture capital firm that led the round. Punchlist’s product also represents a strength in the tech industry — enterprise software solutions geared toward internal company use. Punchlist is also growing during a time when companies are adopting new technology to help their workers collaborate in a remote environment because of the COVID-19 pandemic.
Inside the deal: Overline led the round with Boston-based firm PJC. Meritech Capital's Craig Sherman and other private investors also participated. Overline’s Michael Cohn will join Punchlist’s board.
What’s next: The founders needed this seed round to give them the resources to develop technology that could recommend changes for projects, in addition to the manual feedback team members and clients can give on Punchlist. Bernardo and Rosental plan for Punchlist’s suggestions to be as ubiquitous as grammar and spell check features on online writing platforms. The founders currently are the only employees, but they plan to hire a four-person technical team. Punchlist also plans to expand its product integrations. The startup just launched integrations with Wordpress and Slack, which allows those users to take advantage of the Punchlist software.
What they’re saying: “Fundamental to Punchlist is the belief that this type of work doesn’t require a meeting, and this work doesn’t require you to be face-to-face,” Bernardo said. “Being asynchronous and remote is important to our product, our culture and how we’re hiring.”
