They have been extremely tight lipped about their grown, even to the detriment of some of their investors but it looks like Toronto-based social video platform Keek has closed $7 million in financing this week, and brings their total raised to over $12 million, they previously raised $5.5 million in October 2011 from AlphaNorth, PowerOne and Plazacorp Ventures.
Cranson Capital Securities led the round with participation from Pinetree Capital Ltd and Whitecap Venture Partners. The new financing will accelerate expansion to meet surging demand for its social video sharing service.
The startup first launched in March 2012 and has since grow to include the following stats:
- 250 million pageviews and 21 million visits in August
- 6.4 million total videos, 2 million created in August with 66,000 videos created per day
- 31 million total social actions, 9 million social actions in August
“With its rapidly growing user base and highly active community, Keek is uniquely positioned to dominate this fast-growing market,” said Devon Cranson, President, Cranson Capital Securities. “Keek is redefining the future of this space and their recent growth confirms there is a huge demand for social video.”
“We are committed to delivering the fastest, most engaging social video experience,” said Isaac Raichyk, CEO of Keek. “This new funding will allow us to keep the momentum going, accelerate product development, scale the infrastructure and expand globally.”
Keek’s play on social video is different than YouTube in that they offer only 36 seconds for video updates which they refer to as “keeks.”