Keek Inc. announced today that it has raised $5.5 million in equity financing from a group of investors led by AlphaNorth Asset Management and Plazacorp Ventures, with PowerOne Capital Markets Ltd. acting as agents. The Toronto-based startup operates Keek.com, a microblogging social networking platform based on video instead of text.
Isaac Raichyk, founder and chief executive officer of Keek Inc., said the financing was a vote of confidence that would enable Keek to expand its platform and its capabilities.
Just like Twitter limits users to 140 characters, Keek videos are up to 36 seconds in length. The free service emphasizes the speed of both uploading and sharing, and integrates with Facebook, Twitter and Tumblr. Videos can be shared via iPhone, Android or webcam apps.
Raichyk said 75 percent of Keek’s audience in this early stage is under 24 years old. “The youth of today clearly want to use video for both communication and entertainment,” he said in a statement. “We’ve created a platform that provides users with a fun new way to connect and share their lives. Keek is a place where people can interact and build communities through microvideo dialogue which is more informative and fun than traditional microblogging or photo sharing.”