Video storytelling platform StoryTap has announced a seed funding round.
The $2.3 million round, led by Refinery Ventures and StandUp Ventures, will allow the company to continue to grow, both in North America and internationally. Refinery Ventures managing partner Tim Schigel and StandUpVentures MD Michelle McBane have joined StoryTap's board, as well.
StoryTap's patented platform allows consumer brands to more effectively use social video to engage consumers and grow. In particular, brands can source, produce, curate and distribute content created by consumers. Such content includes reviews, Q&As and other video content. This in turn helps increase traffic for the brands, as well as drive engagement and conversions.
As many companies made the switch to online content with the onset of the pandemic, StoryTap saw 450% growth in the number of brands using its platform last year. Users include Veet, Durex, Telus and CanadianTire.