Social music creation platform BandLab amplifies development with new spherical valuing firm at $425M

BandLab Technologies, the Singapore-based mum or dad firm of flagship social music creation platform BandLab has introduced the addition of USD $25M in a brand new spherical of Series B1 financing that raises the valuation of the corporate to USD $425M post-money.

Led by present investor Cercano Management (previously Vulcan Capital) with super-pro rata participation from Prosus Ventures, this extra tranche of capital is a major milestone for BandLab Technologies. This builds on its beforehand introduced Series B spherical in 2022 and accelerates the corporate’s imaginative and prescient to empower extra creators worldwide with accessible music creation instruments from cell to desktop.

This new funding will see BandLab Technologies additional develop its workforce and double down on rising creator campaigns. This ongoing dedication to increasing the staff and intensifying advertising and marketing efforts goals to advance the event of cutting-edge music creation instruments whereas extending the corporate’s attain and assist to untapped communities of musicians and followers. BandLab may also channel further assets in direction of supporting companies resembling main music schooling platform BandLab for Education and different comparable initiatives.

At the center of BandLab Technologies’ choices is BandLab, a groundbreaking platform that empowers aspiring music creators all over the world to create, collaborate, and share their music on-line with an emphasis on rising artist discovery, neighborhood, and fandom. With a wide-reaching neighborhood starting from first-time creators to viral TikTok stars to GRAMMY-winning producers, BandLab’s award-winning complete ecosystem is an end-to-end creator-centric vacation spot.

Ranked as Fast Company’s most progressive music firm in 2023, BandLab’s deep array of options consists of cross-platform digital audio workstation Studio, main royalty-free pattern and loops service Sounds, AI music generator software SongStarter and extra, all designed for creators to simply spark new musical concepts. The firm’s vibrant ecosystem additionally consists of main professional-level digital audio workstation Cakewalk, artist companies platform ReverbNation, and not too long ago acquired beat market Airbit. 

Since its Series B spherical in 2022, the corporate has seen exceptional milestones from its neighborhood of over 60M registered customers, with groundbreaking artists resembling d4vd, ThxSoMch, and Luh Tyler trending on international charts and experiencing main label success. Additionally, the introduction of direct fan subscriptions, discovery, and promotional analytics software Boost, in addition to the launch of Opportunities by way of Reverbnation proceed to raise the vary of companies accessible to artists in the beginning of their creator journey. BandLab’s dedication to bridging the hole between impartial artists and labels has seen quite a few hero tales and collaborations emerge, serving as an inspiration to the quickly rising world of aspiring creators worldwide. 

“We are at a fascinating juncture the place know-how and artwork intersect, bringing down the standard obstacles to creativity,” says Meng Ru Kuok, BandLab CEO & Co-Founder. “In this transformative period of mass music creation, our dedication to artists, aspiring musicians, and creators worldwide has by no means been stronger. Not solely are we democratizing music creation on a world scale, we’re fostering a neighborhood the place everybody can categorical themselves by means of music, no matter their assets or technical prowess. With this funding, we step ahead right into a future the place each smartphone proprietor has the potential to be a singular music artist who’s protected, empowered, and heard.”

Managing Director & Head of Southeast Asia at Vulcan Capital, Tommy Teo, says, “Since our unique funding, BandLab has been steadfast in demonstrating its distinctive potential in making music creation accessible and satisfying to a world viewers. BandLab’s dedication to nurturing creativity and fostering collaboration amongst its rising neighborhood of highly-engaged customers is really distinctive. We consider of their imaginative and prescient and the ability of the BandLab platform to unlock the following technology of artists and followers and to bridge the creation hole between established markets and rising, underserved areas. As we proceed our assist for the corporate, we count on that BandLab will play an important function in driving a vibrant future for music creators worldwide.”

The submit Social music creation platform BandLab amplifies development with new spherical valuing firm at $425M appeared first on Decoded Magazine.

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