Vitcord, the social media app which allows users to create video ‘stories’, has secured an investment of $2 million. The funding came from different funds and business angels including Gate 93 Ventures, Banc Sabadell BStartup fund, Alfonso Rodés and Zarranz Group.
The company intends to use the funds to scale up, improve the product and user experience and prepare for future growth. As part of the deal, former Facebook director Laura Gonzalez-Estéfani and former director of growth at Twitter Sebastien Lefebvre have joined Vitcord’s board.
The Vitcord app allows users to publish stories on video, interacting directly with what happens around them. They can respond with a video to an influencer, or add what happens in an event to a story created by another user.
The app, which is currently available through Google Play and The App Store, claims to have obtained 400,000 active users in the last 12 months.
Led by CEO Adrián Domenech, the Valencia and Barcelona-based app has raised €2.75 million in total funding. The new investors in the round join existing backers including Mobile World Capital Barcelona Foundation, Sebastien Lefebvre, Eneko Knörr, Pedro Serrahima, David Núñez, Felix Ruiz and Oriol Juncosa.