Social music creation platform BandLab raised $25 M Series B1 funding, valued at $425 M
The flagship social music creation platform BandLab’s parent company, BandLab Technologies, based in Singapore, has announced the addition of $25 million in a new round of Series B1 financing, bringing the company’s post-money valuation to $425 million.
This additional round of funding, led by current investor Cercano Management (formerly Vulcan Capital) with super-pro rata participation from Prosus Ventures, represents a significant achievement for BandLab Technologies, the company said in a statement on Tuesday.
The company’s vision to empower more creators worldwide with accessible music creation tools from mobile to desktop is accelerated by this, according to the statement, which builds on its previously announced Series B round in 2022.
BandLab Technologies will expand its staff and focus more on emerging creator campaigns thanks to the new funding.
In addition to advancing the creation of cutting-edge music creation tools, this ongoing commitment to growing the team and stepping up marketing initiatives aims to increase the company’s exposure and support of underserved communities of musicians and fans.
BandLab will also direct extra funds toward assistance programs like the popular music education platform BandLab for Education and other initiatives of a like nature.
BandLab, a ground-breaking platform that empowers aspiring music creators worldwide to create, collaborate, and share their music online with an emphasis on emerging artist discovery, community, and fandom, is at the core of BandLab Technologies’ offerings.
BandLab’s award-winning comprehensive ecosystem is an end-to-end creator-centric destination with a large community that includes first-time creators, viral TikTok stars, and GRAMMY-winning producers.
BandLab was named the most innovative music company by Fast Company in 2023. Its extensive feature set includes a cross-platform digital audio workstation called Studio, the industry’s top royalty-free sample and loops service called Sounds, the artificial intelligence (AI) music generator tool called SongStarter, and more. All of these tools are made to help creators quickly come up with new musical ideas.
Along with leading professional-level digital audio workstation Cakewalk, artist services platform ReverbNation, and recently acquired beat marketplace Airbit, the business also boasts a thriving ecosystem.
The company has experienced incredible milestones from its community of over 60 million registered users since its Series B round in 2022, with ground-breaking artists like d4vd, ThxSoMch, and Luh Tyler trending on global charts and enjoying major label success.
Numerous hero stories and collaborations have emerged as a result of BandLab’s dedication to bridging the gap between independent artists and labels, inspiring a rapidly expanding community of aspirant creators worldwide.
