Phoenix-based FlyPaper Studio, a startup specializing in letting people create and edit “Flash-quality” content, has raised a $3 million first round led by Sierra Ventures and SCF Arizona. The company is pitching its service to both consumers and businesses, as an easy way for users to create graphical presentations without much technical knowledge. Presentations can then be used for PowerPoint-like purposes or for online, video-based demonstrations. The system is built around its own pre-established templates and a drag-and-drop editing function. Freepath, a startup founded by ex-Apple (NSDQ: AAPL) John Stone, is targeting a similar space. Release.