StoryTap Launches Seed Fundraising Round led by Refinery Ventures and StandUp Ventures

Martech Outlook | Friday, June 04, 2021

With e-tail now representing a 26.7 trillion dollars market according to the UN Conference on Trade and Development, the firm, which enables major consumer brands to source, produce, curate, and distribute on-brand customer-generated content such as video reviews, video Q&A and video content experienced 450 percent growth in the number of brands using its platform in 2020.

FREMONT, CA: StoryTap, a cloud-based video marketing platform, has launched a seed fundraising round led by Refinery Ventures and co-led by StandUp Ventures. The company's patented video storytelling platform enables well-known brands to engage and grow by harnessing the power of authentic social video stories on a global scale. Tim Schigel, Managing Partner of Refinery Ventures, and Michelle McBane, Managing Director of StandUp Ventures, have joined the StoryTap Board.

The 2.3 million dollars round will help StoryTap satisfy the increasing demand for its video storytelling platform in North America and around the world, at a time when around 20% of global commerce activity has gone online, and marketers are looking for new ways to engage customers. With e-tail now representing a 26.7 trillion dollars market according to the UN Conference on Trade and Development, the firm, which enables major consumer brands to source, produce, curate, and distribute on-brand customer-generated content such as video reviews, video Q&A and video content experienced 450 percent growth in the number of brands using its platform in 2020.

"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. 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," said Bernadette Butler, CEO, StoryTap. "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. 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."

Butler and CTO Sean Braacx created the company, which has been bootstrapping the development and expansion of its proprietary, scalable, and secure video storytelling platform for the past five years. Reckitt Benkiser's Enfamil, Cepacol, Veet, K-Y, and Durex brands and various departments at UCLA and TELUS, the major telecommunications firm, are among StoryTap's customers. CanadianTire uses StoryTap to create video product reviews for Dyson, Instapot, Greco, and Dewalt.

Furthermore, corporate firms now rely on StoryTap's secure enterprise video marketing platform, which was launched this Spring, to help them create real, on-brand customer and staff video stories. Brands rely on StoryTap's video content to increase traffic, SEO, and engagement.

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