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Social media platform Keek closes $7M in new funding

Since its initial launch, Keek has seen more than six million videos uploaded to its platform; in August 2012, an average of 66,000 new videos a day were created. Rewarding that rapid growth: several new investment partners, who between them will be putting $7 million into the (so far free-to-use and free-of-advertising) video-sharing service.

If you're not familiar with it, an explanation by analogy: roughly, Keek is to YouTube as Twitter is to traditional blogging—that is, shorter, faster and with more back-and-forth conversation. Users create "microvideos" (maximum length: 36 seconds) called keeks, as a sort of status update, and can also communicate via private videos/keeks, similar to the "direct message" function on Twitter. "A keek," explains the company's FAQ whimsically, "by definition is a quick look, glance or peep."

"This new funding will allow us to keep the momentum going, accelerate product development, scale the infrastructure and expand globally," said Isaac Raichyk, Keek's CEO, in a press statement announcing the new investment, which follows on a previous round of $5 million in financing secured about a year ago.

Keeping it local, the three major partners in this round of funding are also based in Toronto, in addition to Keek itself: Canson Capital Securities, Pinetree Capital and Whitecap Venture Partners.

Writer: Hamutal Dotan
Source: Isaac Raichyk, CEO, Keek
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