Keek, a Toronto, Canada-based operator of a free social video platform, has closed a $7m financing.
The round, which brings the total amount raised by the company to date to more than $12m, was led by Cranson Capital Securities, with participation from Pinetree Capital Ltd (TSX:PNP) and Whitecap Venture Partners.
Keek intends to use the funding to accelerate product development, scale the infrastructure and expand globally.
Launched for iOS and Android in March 2012, the social network connects people via 36 second video updates known as “keeks”. The video sharing service allows users to:
– follow and/or subscribe to other users;
– respond to keeks with text or video comments via “keekbacks”;
– manage content, settings and real-time activity through a personal dashboard;
– monitor performance with a free analytics tool;
– join group discussions,
– explore new topics, and
– watch real-time keeks related to current events.
The company is led by Isaac Raichyk, CEO.