By Sahil Patel
Interactive video services firm Rapt Media has raised an additional $3.1 million in funding led by Boulder Ventures. The Boulder-based startup will use the money to build out a presence in NY and LA as it tries to get closer to brands, agencies, and production companies.
Rapt Media’s software is designed to help media companies and advertisers build interactive video programs to better engage with consumers.
“The concept of mere ‘brand awareness’ is dead,” said Rapt Media co-founder and CEO Erika Trautman in a statement. “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.”
Rapt pitches clients the ability to go beyond the view. As users are interacting with the video, Rapt’s clients are able to learn more about their preferences, as well as drive them to actual business goals like sign-ups, sales inquiries, and purchases.
With the new funding, Rapt has raised $7.5 million to date.