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Snapshot of a VC Deal: Keek

keek.comWho: Toronto-based Keek, a social network that lets people post 36-second video updates known as “keeks”. The funds will be used to accelerate expansion.

How much: $7-million from a group led Cranson Capital Securities with participation from Pinetree Capital and Whitecap Venture Partners. Last October, Keek raised $5.5-million from AlphaNorth Asset Management and Plazacorp Ventures.

The Quote: “With its rapidly growing user base and highly active community, Keek is uniquely positioned to dominate this fast-growing market. Keek is redefining the future of this space and their recent growth confirms there is a huge demand for social video.” – Cranson Capital Securities president Devon Cranson.

Source: canadianprivateequity.ca

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