Wednesday August 6, 2014 0 comments
BOULDER - Rapt Media, a producer of interactive video, today announced it closed on a $3.1 million round of venture financing led by Boulder Ventures Ltd.
The company said it will use the funding to build out a presence in New York and Los Angeles to be where brands, agencies and production companies thrive.
The new funding round brings Rapt Media's total funding to $7.5 million.
"Video is the fastest-growing format in branding and advertising, and mobile is the fastest-growing form factor in the consumption of content," said Peter Roshko, general partner at Boulder Ventures Ltd.
"Rapt Media's interactive video platform enables content creation for the next generation of mobile video and has captured mindshare among leading consumer brands."
"The concept of mere 'brand awareness' is dead," said Erika Trautman, Rapt Media CEO and co-founder. "We as consumers are so inundated with content and brand messaging that the half-life on brand awareness is just seconds.
"Companies talk about the number of views a video gets as if it's a real economic commodity, but it's fool's gold. If viewers aren't engaging in a real way, they're not going to remember your brand."
The company also announced the launch of its integration with marketing automation system Eloqua. Rapt Media said enterprise-level customers can now collect more valuable information about leads by using Eloqua's marketing automation suite to capture user interactions within an interactive video experience.
"As more brands and agencies invest in interactive video as a tool for engaging viewers, they've come to recognize the value of the intelligence that can be captured from those interactions," said Caleb Hanson, Rapt Media VP of product.