Vancouver’s StoryTap has raised a USD $2.3 million seed round led by Refinery Ventures and including StandUp Ventures.
StoryTap’s patented video storytelling platform enables brands to engage and grow by harnessing the power of authentic social video stories.
StoryTap was founded by CEO Bernadette Butler and CTO Sean Braacx (pictured) and has been bootstrapped for over five years. StoryTap works with major consumer products, retail and education companies, and customers include CanadianTire, Enfamil, Cepacol, Veet, K-Y, Durex, and TELUS.
In the case of CanadianTire, StoryTap generates video product reviews for Dyson, Instapot, Greco and Dewalt.
In addition, enterprise companies now depend on StoryTap’s secure enterprise video marketing platform, launched this Spring, to help them generate authentic, on-brand customer and employee-specific video stories.
“COVID-19 accelerated the rapid shift of businesses around the world from physical to online, so brands needed to quickly figure out how to humanize their e-commerce experience and pivot from an in-store experience to virtual. As the economy begins to reopen, e-tail buying shows no signs of slowing,” shared Butler.
“Our customers are seeking authentic ways to build trust by educating, engaging and serving shoppers, and we are able to deliver a scalable, automatic authentic video storytelling solution for them at a time when society couldn’t get together in real life.”
Refinery Ventures Managing Partner Tim Schigel and StandUp Ventures Managing Director Michelle McBane have joined the StoryTap Board.
“We’ve grown by powering one brand after another, demonstrating how genuine consumer-generated videos can drive engagement and sales, and imbue companies with a true seal of approval,” continues Butler.
“The growth and adoption of StoryTap in the past year has given us a glimpse of the massive opportunity that is in front of us, and the investment and network from Refinery and StandUp will enable us to bring our solution to even more brands on a global stage.”