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Santa Monica-based Peloton closed a $2 million angel round this week. The enterprise web company, which allows investment banks to market deal opportunities, will be using the cash to build out its development team in LA as well as expand its team in New York and Chicago, CEO Steve Weisner said.
Weisner and his team are “aggressively executing on the plan” to “redefine the way that bankers communicate opportunities to their buyers and investors.” With a team full of former investment bankers and private equity investors, Peloton has a good chance at disrupting this old school industry.
“We intuitively understand the market, the need for change and the value proposition that Peloton delivers,” Weisner said. “The team is really excited to build a game-changing product for our industry. Investment banks have used the same marketing materials to sell and raise capital for companies for more than 30 years.”
Replacing PDFs and hard copies, Peloton’s document technology allows for easily updatable content with video and image capability - even on mobile.
“We’re excited about the growth opportunities at Peloton and we’ve got a number of upcoming projects with clients in investment banking and private equity,” Weisner said. “We’ve already worked with leading mid-market and bulge bracket investment banks and are in final stage discussions with a bunch more. The sky’s the limit in terms of where we can take the business.”
